SpaceX just successfully raised $850 million



Elon Musk's SpaceX just successfully raised $850 million, pushing up the valuation to 74 billion USD.

Elon Musk's private aerospace company SpaceX successfully called up capital of $850 billion last week, raising this company value to a new high record.

SpaceX just successfully raised $850 million

SpaceX just successfully raised $850 million / ph: SpaceX

With the newly raised money, SpaceX is valued at $419.99/stock, a bit lower than the price level of $420 that Elon Musk gave in 2018 with the claim of capital guarantee for Tesla's privatization instead of being a public company.

 With the latest funding round, SpaceX's valuation is up 60% from August, when the company raised nearly $2 billion at a valuation of $46 billion.  SpaceX is not currently responding to a question from media chanels regarding this matter.

 The ambitious plans, along with the proven breakthrough successes and the fact that SpaceX stocks can be exchanged on the secondary market, make investors excited about another Elon Musk's product.  In this phase, SpaceX only partially met the market's demand when up to $6 billion was offered to buy SpaceX stocks in just 3 days.

Raising cash for Starlink and Starship

 SpaceX's latest fundraising round takes place when they are pursuing two capital-intensive projects, Starlink and Starship.  Starlink is an ambitious project to build an Internet-connected network with tens of thousands of satellites, known as a constellation in the space industry.  It will bring high-speed Internet to users anywhere in the world.

 SpaceX management board previously estimated that Starlink would cost $10 billion or more to complete.  However, they believe it can bring in $30 billion a year, the amount is 10 times bigger than the annual revenue of the aerospace business that SpaceX is operating now.

 So far, SpaceX has launched more than 1,000 Starlink satellites and and started to roll out early service to customers in the US, Canada and UK.  Recently, the company continued to expand its scope of testing while also allowing potential users to pre-order the service for $99.

 In a notice to pre-bookers, SpaceX said it aims to provide services to these customers from mid to late 2021. Previous orders stated that service times are expected to provide on 2022.

 A latest SpaceX disclosure to authorities last week said Starlink has more than 10,000 uses in the US and abroad.  This figure was reached just 3 months after they launched the large-scale beta version.

 Last week, Elon Musk also reiterated that SpaceX plans to split the Starlink division and make it a public company.  According to Musk, Starlink will take longer to get out of negative cash flow.  

 The Starship rocket represents another ambitious SpaceX endeavor.  The fact that the company regularly builds and tests prototypes of this missile demonstrates that ambition.  However, in the last 2 high altitude flight tests, Starship has not still landed safely.

 Starship is built to be reused after each launch like a commercial jet.  SpaceX is ambitious for Starship to carry cargo and up to 100 people at the same time to the moon or Mars.  Although the last two trials have both failed, SpaceX calls them important strides in development.

SpaceX just successfully raised $850 million

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