SpaceX aims to raise $250 million with a $36 billion valuation

Posted on Tuesday, Feb 25 2020 @ 10:16 CET by Thomas De Maesschalck
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CNBC reports SpaceX is planning a $250 million funding round. The spaceflight startup is already one of the most valuable private companies in the world, the latest capital raise would value the company at $36 billion.

SpaceX raised a total of $1.33 billion last year across three funding rounds. The company's capital raises are consistently oversubscribed. SpaceX needs more money as it has three important programs this year: Crew Dragon, Starlink, and Starship. Crew Dragon is the spacecraft designed to fly NASA astronauts to the ISS, Starlink is a new satellite constellation intended to provide high-speed, low-latency Internet to all parts of the globe, and Starship is the ambitious project to create a reusable rocket that can carry as many as 100 people to the Moon and Mars.
Starlink is the company’s ambitious plan to create a global network of small satellites to provide high-speed internet to any place in the world. Known as a “megaconstellation,” Starlink is expected to consist of an interconnected system of about 12,000 satellites.

So far SpaceX has launched about 300 Starlink satellites, sending batches of 60 at a time into space every few weeks.
The Starlink network is expected to cost about $10 billion or more, according to comments made by SpaceX president Gwynne Shotwell two years ago. The company is also considering to spin off Starlink via an IPO within a couple of years.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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