Wednesday, September 30, 2020

"Elon Musk Says SpaceX Could IPO Starlink—But Only Under One Big Condition"

From Observer:
Elon Musk is changing his mind about spinning off SpaceX’s Starlink as a separate public company as the satellite-based internet project makes rapid progress toward providing global service.
“We will probably IPO Starlink,” Musk tweeted on Monday, “but only several years in the future when revenue growth is smooth and predictable.”

The tweet clarified months of rumors around a possible Starlink IPO. In February, SpaceX President Gwynne Shotwell told investors that “Starlink is the right kind of business… we are likely to spin out and go public.”

However, at a satellite conference a month later, CEO Musk said his rocket company was putting “zero” thought toward taking Starlink public, stressing that his priority was to get the constellation work first. At the time, SpaceX had launched 300 Starlink satellites, about a quarter of what’s required to provide global internet coverage....

If you recall, it wasn't all smooth sailing for SpaceX: