Robert Besser
20 Nov 2023, 07:16 GMT+10
LOS ANGELES, California: This week, SpaceX CEO Elon Musk denied reports that his rocket company was discussing an initial public offering (IPO) for its satellite internet business, Starlink, as soon as 2024.
In a reply to a post on social media platform X that shared a related Bloomberg News report, the billionaire entrepreneur said that SpaceX had been moving the unit's assets to a wholly-owned unit, which would eventually be spun off.
Musk previously said that when revenue growth and cash flow became smooth and predictable, he would list Starlink, adding that the company had achieved cash-flow breakeven earlier this month.
SpaceX was the first private company to send humans into orbit and is estimated to be valued at US$150 billion.
Justus Parmar, founder and CEO of venture capital firm Fortuna Investments, said, "I believe Musk will take Starlink out, not next year, but maybe 2025, 2026. He is waiting for a level of stability or predictability in revenue."
"When the IPO happens, it will be an extremely strong catalyst for everything space-related," he added.
Get a daily dose of Germany Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Germany Sun.
More InformationBRUSSELS, Belgium: To address power shortages at electric vehicle (EV) charging stations, last week, the European Commission announced plans to ...
New Delhi [India], December 7 (ANI): India's expanding consumer market and vast labour force can make it an alternative destination ...
European Union leaders are in Beijing Thursday for a summit with Chinese President Xi Jinping and other Chinese leaders.Ahead of ...
Beijing's clarification of its stance on commerce with the European Commission comes after the bloc warned of a "growing trade ...
budapest, hungary - Ukrainian President Volodymyr Zelenskyy's chief of staff on Wednesday said he wanted to arrange a meeting between ...
© Provided by Xinhua BEIJING, Dec. 7 (Xinhua) -- China's total goods imports and exports expanded 1.2 percent year on ...
BRUSSELS, Belgium: To address power shortages at electric vehicle (EV) charging stations, last week, the European Commission announced plans to ...
The U.S. has supplied Israel with scores of BLU-109 bunker-buster bombs since October 7, the Wall Street Journal has reported, ...
HELSINKI, Finland: After Finland joined the North Atlantic Treaty Organization (NATO) earlier this year, hundreds of migrants from the Middle ...
Moscow [Russia], December 7 (ANI): The Russian Federation Council unanimously agreed to officially designate March 17, 2024, as the date ...
Athens, Greece - Turkish President Recep Tayyip Erdogan travels to Athens on Thursday in a keenly watched visit billed as ...
A Russian drone attack killed one person and damaged port infrastructure in Ukraine's Odesa region, the regional governor said Thursday.Oleh ...