Musk-owned SpaceX intends to spin off Starchain business and seeks IPO

Netease Technology News on February 7th, according to foreign media reports, SpaceX, a space company owned by Elon Musk, plans to spin-off the space internet business Starlink, giving investors a chance to invest.

How many satellites Launched

SpaceX President Gwynne Shotwell said at a private investor event in Miami on Thursday that the company had launched more than 240 satellites for the Starlink business and will begin providing Internet services this summer.

“At the moment we are a private company, but Starlink is the right business that we can go ahead with and go public,” Shortville said. “This business is part of what we might spin-off and go public.”

With its dominant position in the commercial rocket industry, SpaceX has become one of the highest-valued venture capital support companies in the United States. It sends customers’ satellites into orbit, carries cargo to the International Space Station, and plans to provide space flight services to NASA astronauts and high-income tourists in the near future. But so far, investors have limited access to SpaceX shares.

Competition and Challenges

In addition, the rocket launch business is still full of competition and challenges. Starlink and its ability to provide high-speed Internet around the world can justify the company’s estimated $ 33 billion valuations. Musk has long insisted that unless SpaceX regularly sends passengers to Mars, it is unlikely to go public.

At present, SpaceX’s space Internet service can only cover high latitudes, but it is expected to cover the whole world by the end of this year. In fact, this service will make SpaceX a telecommunications company with a rocket business.

Shortville Speach

“This will make SpaceX a company that serves consumers, and we’re excited about that,” Shortville said. The company can put about 60 satellites into orbit at one time and is expected to cover the world with four more launches. Shortville said the service would be “cheaper than existing services and would be 5 to 10 times faster than it is now.”

The listing of Starlink’s business may be welcomed by some SpaceX employees and investors. Musk has been reluctant to subject SpaceX to scrutiny by a public company and to disclose financial details of the company. This leaves employees with valuable stock, often only cashed out in limited private transactions. The listing of Starlink may also allow its long-term supporters to benefit from high-risk investments.

In the next few years, SpaceX intends to put thousands of satellites into orbit and increase service bandwidth. How many people are willing to pay for this service is still an open question.

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