SpaceX becomes the world’s second $100 billion startup (Centicorn)

After investors sold shares earlier this week, SpaceX valued Tesla CEO Elon Musk at more than $100 billion.

According to several people familiar with the matter, SpaceX has reached an agreement with the company’s new and existing investors to sell up to $755 million in stock from insiders at $560 per share. This allowed the company to increase its value to $100.3 billion. This transaction was a secondary sale of existing shares, and they did not raise new money from it.

Compared to $419.99 per share in the previous transaction (SpaceX raised nearly $1.2 billion at the time and valued the company at $74 billion), the deal price of $560 per share equates to a 33% premium. In February of this year, SpaceX also conducted a similar secondary sale. At the time, insiders sold nearly $750 million in stock.

SpaceX’s new valuation makes it one of the few “Centicorn” companies (with a market value of over $100 billion) unlisted in the world. Data from the research company CB . insights He explains that SpaceX is now the second largest company in the world. This company is second only to Bytedance and outperforms fintech company Stripe.

In the past few years, SpaceX’s valuation has skyrocketed because the company has raised billions of dollars to fund two capital-intensive projects: Starship and Starlink Satellite Internet Services.

SpaceX and Startlink

The interstellar spacecraft is the next generation of giant rockets that SpaceX is developing to launch a payload and send humans to the moon and Mars. Starlink satellite internet is SpaceX’s golden ticket, he says CNBC.

Starlink is a satellite Internet project of SpaceX. From 2019 to 2024, SpaceX plans to use five years to send thousands of satellites. They are necessary for communication in low Earth orbit to form a “Starlink” network to provide Internet services. At present, the “Starlink” network has launched more than 1,700 satellites. But it will add more in the near future. Ideally, he wants to have up to 12,000 satellites.

SpaceX said in early August of this year that its satellite internet service Starlink has about 90,000 users in 12 countries. In addition, Starlink has more than 500,000 applications / deposits worldwide. Starlink was founded by Musk in 2015 and launched the beta version of the service in October 2020. But at the time, the company only had 10,000 users. Now, it is growing rapidly.

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