SpaceX Hits $100 Billion Valuation In Recent Share Sale From Existing Investors

Elon Musk’s SpaceX has officially hit a $100 billion valuation. 

The news comes after the company completed a share sale from existing investors last week, according to CNBC.

The company has an agreement to sell up to $755 million in stock from current insiders at a price of $560 per share. This moves the company’s valuation to $100.3 billion.

No new capital was raised from the offering, which was consummated at a 33% increase from the company’s last valuation of $74 billion, which was assigned to the company in February 2021. At the time, the company raised $1.2 billion.

With its $100 billion valuation, CNBC notes, the company is now officially a “centicorn” – a term used for a $1 billion “unicorn” one hundred times over. 

SpaceX has raised billions over the last few years to work on its Starship and Starlink projects. Starlink is the company’s plan to build a network of thousands of satellites to provide high speed internet. Starship is the company’s rocket that is being planned to move cargo and missions on the moon and Mars.

Starship’s next step is to reach orbit, while Starlink has already launched 1,740 satellites and already has over 100,000 users participating in a public beta.

And unlike Tesla’s Full Self Driving public beta, Starlink’s is far less likely to launch you into inanimate objects at high rates of speed for no particular reason. 

Here’s how SpaceX’s valuation has grown over the last two decades:

Source link