SpaceX is one of the most valuable private companies in the world. The aerospace company returned human spaceflight capabilities to the United States in 2020, and is on track to perform multiple crewed flights, including plans launch the first all-civilian mission. SpaceX's innovation and determination to build a robust space program has enabled them to steadily raise funds over the years. Last week SpaceX completed a funding round of $850 million, increasing its valuation to about $74 billion. The funds were raised at $419.99 a share, according to CNBC news. In 2019, Elon Musk, founder of SpaceX and CEO at Tesla, joked he would take Tesla private at $420 per share, now he priced SpaceX’s shares just one cent below.
SpaceX’s newest funding round comes after it started to accept preorders of the Starlink broadband internet service. The Starlink.com website now allows customers to preorder a Starlink Kit priced at $499 USD; monthly internet service fee is $99 USD per month. The company currently operates approximately 1,145 satellites in low Earth orbit –the largest broadband constellation in the world. More satellites are yet to be deployed, the constellation will have over 4,400 satellites to provide internet on a global scale. SpaceX President Gwynne Shotwell said they estimate it would cost $10 billion or more to launch the constellation and that the Starlink internet service could generate at least $30 billion in annual revenue, which is more than ten times SpaceX’s annual revenue as a rocket launch provider. If the Starlink network earns a portion of customers in the telecommunications market, long-term, it could provide funding for the company’s ambitious space program. SpaceX’s space program includes developing a fleet of Starships to colonize Mars and enable humans to have a permanent presence on the lunar surface. The next-generation spacecraft is under development at SpaceX South Texas Launch Facility at Boca Chica Beach in Brownsville, TX.
All Images Source: SpaceX
About the Author
Evelyn J. Arevalo joined Tesmanian in 2019 to cover news as a Space Journalist and SpaceX Starbase Texas Correspondent. Evelyn is specialized in rocketry and space exploration. The main topics she covers are SpaceX and NASA.