SpaceX, America’s most valuable startup, just got even bigger – a valuation of nearly $150 billion. In another round of share sales by insiders, approximately $750 million worth of stock was issued to investors at $81 per share.
Founded in 2002, Musk’s SpaceX is the world’s busiest rocket operator, launching 180 rockets last year. Get the insider info on today’s biggest stories in business from Wall Street to Silicon Valley – delivered daily.
SpaceX, the spacecraft maker owned by billionaire Elon Musk, is now worth about $150 billion after a second share sale to investors in seven months.
As CNBC reports, company insiders sold a total of $750 million worth of shares to new investors – at $81 each. This represents a 5% increase from the $77 offering in December.
SpaceX is the most valuable US startup and is known as a “centicorn” or in other words, a $100 billion tech unicorn. According to the Journal, its investors are most excited about the Starlink project, a satellite communications service that aims to revolutionize the availability of broadband coverage in remote areas.
As a private company, it is not required to disclose financial results, but periodically has the opportunity to sell stock granted to investors as part of their compensation package.
Elon Musk has said that he does not need to raise more money to support his projects. “To the best of 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 world’s busiest rocket operator, with 180 launches into orbit last year. However, this morning, the Falcon 9 rocket aborted the mission before its record-equalling 16th flight.
Scientists have confirmed that the Starlink satellites are leaking unexpected radiation into space. According to a radio astronomy study, the satellites’ electronics are emitting low-frequency radio waves that are now being picked up by telescopes in the area.
However, SpaceX is not breaking any laws, as no global guidelines have yet been established for dealing with satellite radiation.
Elon Musk is skeptical about the possibility of making Starlink public. According to CNBC, the billionaire has said that he doesn’t expect that to happen until 2025 or later.