Write a comment
In December, SpaceX won $885.5 million from the US Federal Communications Commission to support the company's Starlink satellite network.
Multibillionaire SpaceX CEO Elon Musk told Twitter users on Tuesday when Starlink, a worldwide broadband network created by a constellation of satellites, could launch an initial public offering.
The tech mogul said that it will launch an IPO when In December, SpaceX won $885.5 million from the US Federal Communications Commission to support the company's Starlink satellite network.
Multibillionaire SpaceX CEO Elon Musk told Twitter users on Tuesday when Starlink, a worldwide broadband network created by a constellation of satellites, could launch an initial public offering.
The tech mogul said that it will launch an IPO when the management "predict cash flow reasonably well".
Musk elaborated in a separate tweet that SpaceX needs to "pass through a deep chasm of negative cash flow over the next year or so" to make Starlink financially viable.
Elon Musk doesn't plan to take SpaceX itself public. The company previously stated that the short-term demands of shareholders conflict with the company's long-term ambitions. The company, however, could spin-off the Starlink satellite network.
As of now, Starlink already has over 10,000 users, according to SpaceX. The company wrote previously in a public filing with the Federal Communications Commission that "Starlink's performance is not theoretical or experimental ... [and] is rapidly accelerating in real time as part of its public beta program".
The niche for lower-altitude broadband satellite Internet enjoys some competition from Amazon's satellite Internet plan known as Project Kuiper, which is in some ways similar to Starlink.
Another one of Musk's technological giants, electric car manufacturer Tesla Motors, launched its initial public offering on NASDAQ in June 2010 with 13,300,000 shares of common stock being issued to the public at a price of $17.00 per share. Tesla's IPO raised $226 mn for the company, skyrocketing that day by around 41% to close at $23.89.
Tesla shares have outperformed other major tech and auto stocks since it went public 11 years ago. At the time this article was written, shares in the electric vehicle maker traded for $849.46, which means they gained nearly 3,500% in value since the closure on the day of the IPO.
Related Links
Starlink
The latest information about the Commercial Satellite Industry
|
| Tweet |
| Thanks for being there;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution. | ||
| SpaceDaily Monthly Supporter
$5+ Billed Monthly |  | SpaceDaily Contributor
$5 Billed Once credit card or paypal |
Hawkeye 360 deploys next-generation radio frequency sensing satellites
Herndon VA (SPX) Feb 02, 2021
HawkEye 360 Inc., the first commercial company to use formation-flying satellites to create a new class of radio frequency (RF) data and data analytics, has announced that Cluster 2 - the company's second cluster of satellites - has successfully been deployed into orbit. After launching aboard the SpaceX Falcon 9 this Sunday morning, the trio of satellites was dispensed from Spaceflight Inc.'s Sherpa-FX orbital transfer vehicle and has established communications with the HawkEye 360 satellite oper ... read more