Musk's SpaceX raised over $1 billion in six months - filings

[rooster59]

Musk's SpaceX raised over $1 billion in six months - filings

 

FILE PHOTO: Tesla CEO Elon Musk arrives at Manhattan federal court for a hearing on his fraud settlement with the Securities and Exchange Commission (SEC) in New York City, U.S. April 4, 2019. REUTERS/Brendan McDermid

 

(Reuters) - Billionaire entrepreneur Elon Musk's SpaceX has raised more than $1 billion in financing in the last six months as it aims to roll out an ambitious high-speed internet service by using a constellation of satellites to beam signals from space.

 

The company raised $486.2 million in an equity offering, starting December, and another https://bit.ly/2W1QMJD $535.7 million in an offering that began in April, its regulatory filings on Friday showed.

 

The rocket company on Thursday launched the first batch of 60 small satellites into low-Earth orbit for Musk's new Starlink internet service.

 

Musk sees the Starlink venture as an important new revenue stream for his California-based company, whose launch service income he expects to top out at around $3 billion a year.

 

At least 12 launches carrying similar payloads are needed to achieve constant internet coverage of most of the world, Musk said. For now, Starlink is only authorized for U.S. operations.

 

(Reporting by Akanksha Rana in Bengaluru; Editing by Anil D'Silva)

 

-- © Copyright Reuters 2019-05-25

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[sirineou]

It will disrupt the whole industry, and create a few new ones.

[pegman]

Best to raise $$$ on the market because this guy will need a big chuck of his own change to hand over to Vern.

[mtls2005]

I've watched a couple of the recent launches/recoveries. Simply astounding.

 

That Falcon Heavy op. in April was impressive.

 

19 minutes ago, pegman said:

Best to raise $$$ on the market because this guy will need a big chuck of his own change to hand over to Vern.

Meh. "Vern" would hopefully take stock instead of "chuck"?

 

[Wake Up]

No guarantees but a lot of smart money is and has invested in Starlink which is far ahead of other commercial space programs. What they have accomplished is amazing.  This is one of the greatest potential companies in the world along with Amazon’s space travel company.i am happy to be alive to see it happen. Despite what you think of Tesla or Musk, he has a genius mind when it comes to practical engineering science that is amazing and the men and women working at Starlink are fantastic people and brains.