Space Exploration Technologies Corp CEO Elon Musk revealed Monday that the company plans to go public with its Starlink satellite broadband unit, but not until revenue growth is “smooth” and “predictable.”
What happened: Such an initial public offering would come “several years into the future” as the public market doesn’t “like erratic cash flow,” suggested the billionaire, adding a laugh.
Musk added that whenever such an IPO occurs, Starlink can be trusted to prioritize retail investors. “I’m a huge fan of small retail investors. I’ll make sure they have top priority. You can hold on to me,”
We will likely IPO Starlink, but only several years into the future when revenue growth is regular and predictable. The public market * doesn’t * like erratic cash flow haha. I’m a big fan of small retail investors. He will make sure they have the highest priority. You can hold me to it.
– Elon Musk (@elonmusk) September 28, 2020
SpaceX is considered to be one of the most valuable venture-backed businesses in the United States, with an estimated valuation in excess of $ 46 billion in August.
Because matter: In March Musk, who also drives Tesla Inc (NASDAQ: TSLA), publicly stated that it was not considering an IPO for Starlink, saying, “We’re thinking about that zero.”
The broadband project involves the launch of 12,000 satellites in low earth orbit to provide global internet coverage.
Analysts say SpaceX’s value is primarily within its broadband arm, Starlink, and if the project is successful, it could reach a valuation of $ 120 billion, or it could drop to $ 5 billion.
Photo Courtesy: SpaceX via Flickr
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