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SpaceX (private) is reportedly worth over $100 billion.
And CEO Elon Musk says the company is planning to launch an IPO.
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SpaceX and Musk have big plans . . .
They plan to launch a new satellite network called Starlink (private).
The network aims to provide access to high-speed internet to every corner of the world.
Over 1,000 Starlink satellites have already been launched. And the company plans to launch up to 42,000 satellites within the next seven years.
Musk is considering taking Starlink public in an initial public offering (IPO). And he says the company will go public once its cashflow is predictable.
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Starlink is expanding rapidly.
The company launched a Beta test with 10,000 users in October. The network provides download speeds of 50 – 150 megabits per second. And that makes Starlink internet two to four times faster than DSL and cable.
This week the company began taking pre-orders with a $99 refundable deposit.
SpaceX won $885 million in federal subsidies in December. And the funds will be used to expand Starlink starting in 2021.
Starlink could grow to $30 billion – $50 billion in annual revenues, according to Musk.
“Right now, we are a private company, but Starlink is the right kind of business that we can go ahead and take public,” explained COO Gwynne Shotwell.
Musk plans to use Starlink to fund other SpaceX initiatives – including taking people to Mars.
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Commercial space is a booming business generating $400 billion in annual revenues. Yet the industry is expected to triple to $1.4 trillion, according to Bank of America.
That’s why investors are jumping into shares of Virgin Galactic (NYSE: SPCE).
The stock is trading at $52 – up 424% from its IPO price of just $10.
One undiscovered “space stock” is now preparing to IPO. And the stock could see triple-digit gains after it goes public.
Investors in Silicon Valley and Wall Street are investing in this Pre-IPO. And they’ve already committed $175 million to invest in this space Pre-IPO.
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Yours in Wealth,
Ian Wyatt