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Receive – complimentary report on the SpaceX Starlink IPO
– details on where and how to buy pre-IPO shares
SpaceX has developed a new space internet system that provides customers worldwide internet access. Starlink is currently beaming down relatively high-speed data from its network array of low earth orbit satellites.
Over the last few years, SpaceX has placed almost 3,300 satellites into orbit and will increase the bandwidth of its service with each launch. Exactly how many people will be willing to pay for this service remains an open question.
Elon Musk plans to put up 42,000 satellites in orbit and by 2025, SpaceX has projected to earn as much as $30 billion annually from its satellite broadband internet business, more capital than SpaceX earns from launching satellites.
Receive our free SpaceX Starlink IPO Research Report to find out more information on how to profit today. “Right now we are a private company, but Starlink is the right kind of business that we can go ahead and make public”, commented Gwynne Shotwell, SpaceX Chief Operating Officer.
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The latest funding round will value SpaceX at a whooping $130+ billion, making it one of the most valuable private companies in the world, trailing traditional industrial conglomerates like Cargill and Koch Industries.
SpaceX has estimated that the Starlink project, which involves the first stage of launching a network of 12,000 satellites, could cost more than $10 billion. Since 2018, they have launched almost 3,300 satellites.
SpaceX can only cover higher altitudes, but by the end of the year, it expects to have global coverage. Such a service would, in effect, turn SpaceX into a telecommunications company that also has a rocket business.
Investors have, to this point, had limited ways to own a piece of SpaceX, which has become one of the most richly valued venture-backed companies in the US by dominating the commercial rocket industry.
Historically, similar space internet services have not figured out how to turn such a system into a huge, global business. Starlink dwarfs all these previous attempts in terms of the size and scope of its ambition.
Over the coming years, SpaceX intends to place thousands of satellites into orbit and will increase the bandwidth of its service with each launch. Consumers are currently lined up to pay for this service.
Disclaimer – The value of investments can go up and down and you may not get back the full amount invested. Past performance is not a guide to future returns. Space News 247 does not have an affiliation with, formal relationship with, or endorsement from any companies featured above. This profile is based on publicly available information and is intended to be informative in nature. Logos and trademarks are the property of their respective owners.