Alex Bruno
With a valuation of more than $125 billion, Elon Musk’s spaceship engineering business SpaceX is on its way to becoming the most valuable US startup. According to Reuters, SpaceX’s current secondary market share auction has achieved a worth of more than $125 billion, citing sources familiar with the situation. Following a 10-1 split, the company’s shares previously traded for $56 apiece in October of last year. After that, SpaceX was valued at $100 billion. The stock is now trading at about $72 per share.
With a $125 billion value, a successful stock offering might make SpaceX the biggest company in the United States. This would put SpaceX ahead of finance juggernaut Stripe, which was valued at $115 billion in a secondary sale. SpaceX has not offered further shares in the secondary market, according to a source who requested anonymity. However, the business has indicated that it may do so later this year. There is currently no information on the precise number of shares that SpaceX is issuing.
In the commercial rocket market, SpaceX is making waves, competing with companies like Jeff Bezos’ Blue Origin. Virgin Galactic (NYSE: SPCE) is another space company with whom SpaceX competes. After producing $337.4 million in December, Elon Musk’s spaceship firm obtained $1.16 billion in equity investment in April. SpaceX launched its newest batch of 53 Starlink broadband satellites into orbit on May 18th.
According to production manager Jessie Anderson, the cargo was sent into orbit by a Falcon-9 rocket. The rocket returned 9 minutes after launching the Starlink broadband satellites into orbit. It landed in the Atlantic Ocean aboard SpaceX’s ‘A Shortfall of Gravitas’ droneship. At 06:59 ET, Nasa’s Pad 39A launched roughly 39 minutes later than planned. The Falcon-9 rocket had previously been utilized by the business, and this was the third flight in a week. By reusing the first stage of its rockets, SpaceX can keep launch costs down.
The Falcon-9’s reusables, according to the company’s CEO, should be used at least 100 times. SpaceX is constantly extending its capabilities. With the help of its CEO, who is also the world’s right man, SpaceX has a good chance of outperforming other US firms in terms of value. The firm recently secured an agreement with JSX to offer the airline a satellite company. According to JSX CEO Alex Wilcox, the WiFi connection will be able to service up to 100 aircraft.
Source: Coinspeaker
