SpaceX tops $100bn in value
October 11, 2021
Elon Musk announced last week that it would widen its sales efforts in the US for its Starlink broadband-by-satellite service. The news coincided with an updated valuation for SpaceX – the parent company for Starlink – of just over $100 billion.
The valuation means that SpaceX is now the second-most valuable private company on the planet (after China’s Bytedance).
The valuation comes about because of a share sale by existing investors at a price of $560 per share.
As to the roll-out of Starlink, Musk said that its service would now extend to the southern States of the US, but he cautioned that demand would have to be rationed until extra satellites are launched.
“Should be nationwide rollout by end of month. Note, still limited by peak number of users in same area. This will improve as more satellites are launched,” Musk said in one of his Tweets.