SpaceX reportedly raised $ 850 million in a round of financing, in transactions that would value the company’s shares at $ 419.99 each. According to CNBC, that would mean the company is worth about $ 74 billion. It would also mean that the company has money to continue with its future projects.
As one might think, some of SpaceX’s projects were deeply profitable before they started making money. Elon Musk, for example, said earlier this month that there was a ‘deep gulf of negative cash flow’ between the company’s satellite internet service provider Starlink and profitability. . The company’s plan to send enough satellites to create a global, high-speed Internet network is costly, and since the service is still in beta and pre-order stages, it will not bring in a ton of money.
The company is also working on a spaceship with a payload that resists the Saturn V, the rocket we took to the Moon. Such a project requires many failed test flights, which can sometimes crash and inflate. While SpaceX aims to eventually reuse Starship, like some of its current rockets, recent accidents suggest the company needs to build a few more before it has a product that can be launched profitably into space.
Since SpaceX is a private company, it can be difficult to figure out the financial account, but it is likely that investors (at least those who have paid) almost $ 420 a share) believes the company will be successful, both with future and current efforts, such as delivering deliveries to NASA’s International Space Station. While Musk said Starlink alone could cost $ 10 billion to create, the company’s chances would certainly not have $ 850 million more in the bank account.