Yahoo Reports: Elon Musk’s SpaceX is reportedly looking to raise funds through a fresh sale of employee shares. The sale could value SpaceX at $150 billion, according to Bloomberg and the Wall Street Journal.
The report suggests a share price in the range of $80 as the company seeks to raise around $750 million. SpaceX is considering a new fundraising effort through the sale of employee stock shares, which would value the company at about $150 billion.
The share sale round will reportedly price Elon Musk’s space exploration company at around $80 or $81 per share. Bloomberg first reported that the company plans to raise an estimated $750 million. The Wall Street Journal later confirmed the plan.
SpaceX became the most valuable startup in the United States after its last two rounds of fundraising last May and December, valuing the company at $125 and $140 billion, respectively. As Insider previously reported, the company has raised money privately and sold shares to employees several times throughout its history to raise money and compensate employees.
Elon Musk has big plans for Starship, the SpaceX rocket that exploded on its first orbital launch After 10 years of development, SpaceX today launched Starship, the world’s most powerful rocket. It exploded before reaching space.
Elon Musk founded SpaceX in 2002 with the goal of establishing a permanent human settlement on Mars. Starship is the mega-rocket that SpaceX has been developing over the past decade to make this dream a reality.
Elon Musk is known for his boundless ambition that seems to challenge every limit placed before him, even an exploding rocket. The billionaire has set his space vision high: He wants to launch Starship, the world’s biggest, most powerful rocket, and then use it to take humans to the Moon and Mars.
After more than 10 years of development, SpaceX attempted to launch the giant Starship into space on Thursday morning with its Super Heavy booster. Liftoff went as planned, but about three minutes into flight the booster failed to separate from the Starship, and the rocket plummeted into the air before exploding in a fireball.
Elon Musk has said that SpaceX plans to try again, and that the flight has only a 50% chance of success. If Starship is successful, I have no doubt that it’s going to be the workhorse that will get humans back to the Moon, and Mars Olivier de Veck, professor of aeronautics, astronautics and engineering at MIT, told Insider.
It’s not just a cool rocket project, but it literally has the potential to change the fate of humanity.” Here are 14 facts you need to know in light of Starship’s explosive first orbital launch attempt.
The company, which was founded in 2002, has grown in value in recent years as it has increased the number of satellites and rockets launched into space. The company has also partnered with NASA and other companies to develop the satellite Internet service Starlink, which now operates the world’s largest commercial satellite constellation.
As the Journal reports, investors say the profit potential of Starlink, which is designed to improve internet access in rural areas, is the biggest driver of the company’s value.
SpaceX was in the news earlier this year when its massive Starship rocket exploded shortly after launch. A few weeks after the launch, Musk said that it actually did a little better than he expected.
On Twitter Saturday morning with Bloomberg’s Ashley Vance, Musk said he estimates SpaceX has spent about $2 billion on Starship, and that the number could reach $3 billion before the end of the year. He also said some upgrades to the rocket design and launch pad could be ready in about six weeks, meaning the mega-rocket could see another launch this year.
Many would welcome an upgrade to the rocket’s concrete launch pad. Photos surfaced shortly after the April launch, showing a crater in the rocket’s pad during launch.
Environmental groups later filed a lawsuit against the Federal Aviation Administration for allowing the launch, accusing the agency of failing to consider the environmental impact of the ship’s launch and explosion.