- SpaceX, the most valuable startup in the U.S., has just got even bigger – hitting a valuation of nearly $150 billion.
- In another round of share sales by insiders, around $750 million of stock was issued to investors at $81 per share.
- Founded in 2002, Musk’s SpaceX is the busiest rocket operator in the world, with 180 launches into orbit last year.
SpaceX, the spacecraft manufacturer owned by billionaire Elon Musk, is now worth almost $150 billion after a second share sale to investors in seven months.
As reported by CNBC, the company had insiders sell shares worth a total of $750 million to new investors – each priced at $81. This marks a 5% increase from a $77 offer in December.
SpaceX is the most valuable US startup and is known as a “centicorn” – or in other words, an $100 billion tech unicorn. Its investors are most enthusiastic about the Starlink project – a satellite communication service that aims to revolutionize the availability of broadband coverage in remote areas, according to the Journal.
As a private company, it isn’t required to disclose financial results, but periodically offers investors the chance to sell stock given to them as part of their compensation packages.
Musk has said he does not anticipate needing to fundraise any further to support his projects.
“To my knowledge, we do not need to raise incremental funding for SpaceX,” he said during a discussion on Twitter Spaces in April.
Founded in 2002, SpaceX is the busiest rocket operator in the world, with 180 launches into orbit last year. This morning, however, the Falcon 9 rocket aborted the mission before its record-equalling 16th flight.
Scientists have confirmed that Starlink satellites are leaking unexpected radiation into space. According to a Radio Astronomy study, the electronics onboard the satellites are emitting low-frequency radio waves that are now being picked up by telescopes in the area.
SpaceX isn’t breaking any laws, however, as there are no global guidelines established to deal with satellite radiation yet.
Musk remains coy about the possibility of taking Starlink public. Per CNBC, the billionaire has said he doesn’t expect it to happen until 2025 or later.
Source: www.autoblog.com