Saturday, July 29, 2017

Elon Musk's SpaceX Is Now Valued at $21 Billion

From Investopedia:
There is one more reason for fans of Elon Musk to believe everything the man touches turns to gold. SpaceX, the rocket maker founded by the technology entrepreneur and best known for wanting to colonize mars, is now worth an estimated $21 billion, making it one of the most valuable privately held companies in the world.

SpaceX’s valuation has nearly doubled after it was injected with millions of dollars of new financing. Equidate, a website that provides financial data on privately held companies, confirmed that SpaceX raised $350 million from its latest fund raiser, leading its valuation to soar to $21.2 billion. The company, which makes the majority of its money from sending commercial satellites into space, declined to comment. (See also: How SpaceX Reinvented the Rocket Launch Industry.)

According to The New York Times, the last time SpaceX received major funding was in 2015. Back then, Fidelity and Google pumped $1 billion into the company, bringing the rocket maker’s valuation up to around $11 billion.

The newspaper, citing data from research firm CB Insights, added that the near doubling of SpaceX’s valuation since then means it is now one of seven venture-capital backed company’s worth in excess of $20 billion....
Not everything Mr. Musk touches turns to gold, see, if interested last week's "Why SolarCity Has Become a Shell of Its Former Self Since Tesla Buyout (TSLA)". 
I hear he's also doing something with automobiles.