The estimate of Musk’s space company exceeded $100 billion
SpaceX stockholders sold their securities on the secondary market for $755 million. Although during the transaction, the value of one share was $560, Elon Musk’s space company, SpaceX, agreed with new and existing shareholders to sell shares from current holders for $755 million for $560 per share CNBC reports. According to sources, according to the transaction results, the company is valued at $ 100.3 billion.
Sources said that the company did not raise new capital, and the purchase offer was a secondary sale of existing shares. The company’s value had grown by almost 33% since February, when the company held fundraising, which was at $ 74 billion.
Then the company was selling shares for $419.99 apiece and raised a total of $850 million. In addition, the company’s insiders and investors who had previously invested in it were also able to sell $750 million worth of securities.
According to CB Insights, Musk’s SpaceX is now the second most expensive private company globally. It is second only to the Chinese company ByteDance and overtakes the fintech Stripe. Moreover, SpaceX’s valuation has increased in recent years — the company has attracted funding for Starship and Starlink projects.
Starship is a reusable launch vehicle designed to deliver people to the Moon and Mars. On December 10, 2020, SpaceX conducted the first tests of one of the Starship prototypes. The head of the company, Elon Musk, spoke enthusiastically about the test, although it ended with the ship’s explosion during landing.
The next step in testing the rocket is to reach the Earth’s orbit. SpaceX is awaiting regulatory approval for the next launch. Starlink is a satellite Internet service through which SpaceX intends to provide high-speed Internet in hard-to-reach places. To do this, the company sends satellites into low-Earth orbit.
To date, the company has launched more than 1.7 thousand satellites, and its user base is already 100 thousand people in 14 countries who pay $99 per month for services. In total, the company plans to launch about 4.5 thousand satellites into orbit by 2024.
