Joby Aviation builds out defense business with $500M acquisition

Last year, Joby acquired Blade Air Mobility’s helicopter rideshare business for about $125 million. The acquisition gave Joby instant access to a network of 12 terminals in key markets like New York City as well as terminal bases at John F. Kennedy International Airport, Newark Liberty Airport, on both east and west sides of Manhattan, and Wall Street.

It also delivered much-needed revenue for Joby. The company reported $38.6 million in revenue in the second quarter, $36.2 million of which came from Blade.