The initial round of funds raising for Elon Musk’s company SpaceX is expected to total $750 million. According to CNBC, investors, including Andreessen Horowitz, have valued the rocket and satellite industry at $137 billion.
According to reports, SpaceX was embroiled in controversy in November of last year when it announced plans to launch a major offering that would primarily consist of secondary shares. As a result of the value of the shares, the company’s value might increase by 20% to $150 million.
Bloomberg broke the story last month that SpaceX was allowing shareholders to sell the company for $77 per share, or roughly $140 billion. CNBC previously reported that the company generated over $2 billion in 2022, in addition to a $250 million investment round in July, and that it was valued at $127 billion at a May investment round.
Previously, in June of last year, the company had received roughly $1.68 billion through equity fundraising. Fidelity Investments and Alphabet Inc (GOOGL.O) are two of the company’s investors.
Neither SpaceX nor Horowitz spokesmen directly responded to Reuters’ requests for clarification. As a co-investor, Horowitz reportedly took part in Musk’s $44 billion purchase of Twitter. NASA has used it to launch numerous astronauts and cargo missions toward the International Space Station.
Starlink, a network of thousands of broadband satellites that SpaceX is growing, seeks to earn enormous profits through commercialized purposes like providing superior internet speed on commercial aircraft. SpaceX’s competitors include billionaire Richard Branson’s Virgin Galactic and Amazon founder Jeff Bezos’ Blue Origin. (SPCE.N)
Positively, Starlink, the company’s satellite broadband service, topped 1 million users and provided a lifeline to Ukrainians whose equipment was harmed by Russia’s invasion. SpaceX was also able to launch over 60 reusable rockets in a single year during the course of its Falcon mission.
The company is now carrying on with the production of its Starship and Super Heavy launch vehicles at its Starbase facility in Boca Chica, Texas. It is unclear when the company will go on to the program’s second phase, which calls for an orbital launch test using these larger vehicles.
According to NBC News, NASA Administrator Bill Nelson recently asked SpaceX President and COO Gwynne Shotwell if Musk’s “distraction” as the owner and CEO of Twitter may have an influence on SpaceX’s work with the space program. Parapolitics is a term used to describe issues on Twitter Nelson claims that Shotwell convinced him that it wouldn’t take place.
NASA is currently debating whether SpaceX can assist in the rescue of people on board the International Space Station, as well as an astronaut and two cosmonauts from Russia’s Roscomos, according to CNET. The Russian Soyuz spacecraft is being examined to determine whether it can turn the team to the ground safely or whether urgent action is required. In December, there was a breach in the Russian Soyuz capsule.