Jun 26, 2023 - Economy
SpaceX's valuation climbs amid IPO spark
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SpaceX chief Elon Musk laughed off a question about a potential IPO for the company's satellite internet business during a live Twitter audio interview with Bloomberg on Saturday, saying it wouldn't be "legal" for him to comment.
Behind the question: The business, Starlink, is the primary driver of SpaceX's valuation, investors say.
- And with three large U.S. IPOs scheduled for this week, each from a different industry sector, the IPO market is finally back, Axios' Dan Primack writes.
The latest: SpaceX is offering to sell insider shares at a price that would push the overall company's valuation to around $150 billion, Bloomberg reports.
- That's a 9% increase from late last year and a steady climb from previous funding rounds, as Starlink has also grown.
- There are more than 4,000 satellites in its operational constellation now and Starlink also has more than 1.5 million subscribers.
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