Six years after it was announced to the public, Elon Musk’s Starlink internet service now utilizes more than a thousand global satellites and serves over ten thousand customers. Starlink sits at the helm of a revolution in broadband internet technology, using satellite internet constellations to provide high-speed, low-latency internet service to customers globally.
Last week, Starlink’s parent company SpaceX conducted a secret round of equity funding that brought in over $850 million, pushing the company’s valuation up to a whopping $74 billion — more than double its valuation last year. Many speculate that the cash will fund the Starlink project and the Mars-bound SN10 Starship.
SpaceX and Starlink remain private companies for the time being, though investors have been itching to add one or both of Musk’s companies to their portfolio. Musk has indicated numerous times that he does not intend to take SpaceX public, however recently addressed a possible Starlink initial public offering on Twitter.
“SpaceX needs to pass through a deep chasm of negative cash flow over the next year or so to make Starlink financially viable,” Musk tweeted February 8th. “Once we can predict cash flow reasonably well, Starlink will IPO.”
With Starlink accepting $99 preorders around the U.S. with promises of service as soon as this year, many expect to see an IPO for the internet company around the same time.
