SpaceX CEO Elon Musk stands at the base of a prototype starship rocket at the company’s facility in Bocachica, Texas.
flickr Steve Jurvetson
Elon Musk Last week, CNBC learned to further extend its initial public offering schedule, telling SpaceX employees that the company is unlikely to open its Starlink satellite Internet business until after 2025.
“I don’t know exactly when it is. [IPO] According to a recording obtained by CNBC, Mr. Musk said at a private-sector employee meeting on Thursday: ..
Musk emphasized that, as before, the Starlink business needs to be in a “smooth voyage” with “good predictability.” At that point, “I think it makes a lot of sense to spin it off as a public company,” Musk said.
The latest Starlink IPO timeline represents another lag, traded privately over the years, despite repeated inquiries from various investors to own a portion of SpaceX. It is a stock that is being used.
According to an email to SpaceX employees received by CNBC, Mask had previously targeted offerings earlier this year. An email sent by Musk in May 2019 said, “It probably makes sense to publish Starlink in about three years or so.”
“It will take at least a few years before Starlink’s revenue can be reasonably predicted,” SpaceX CEO later added in a tweet last year. “It’s very painful to publish earlier.” ..
SpaceX did not immediately respond to CNBC’s request for comment on Musk’s remarks.
SpaceX’s Starlink network is designed to deliver high-speed Internet anywhere in the world via thousands of low-Earth orbit satellites. The company was at the end of last month Starlink currently has over 400,000 subscribers worldwide.. SpaceX has launched about 2,500 satellites to date to support the system.
SpaceX offers a variety of Starlink products and services, but the $ 110 / month base price and the company’s latest subscriber base suggest annual service revenue of over $ 500 million.
The Starlink satellite terminal (also known as a dish) installed in front of the RV.
In a comment on Thursday, Musk warned employees that “things should not be seen as a surefire way to wealth.”
“The public market is capricious,” and “if you don’t live up to expectations, the pistol really whips you,” Musk said.
Masks are often controversial with the regulation of listed companies. In 2018, he agreed to pay millions of settlement costs with the Securities and Exchange Commission in response to fraudulent charges relating to his electric vehicle company’s suspended private take plan. Tesla..He is still fighting twitter About a proposal to keep a social media company private.
“Being public is definitely an invitation to pain,” he told SpaceX employees Thursday. “And the stock price is just distracting.”
SpaceX continues to raise billions of dollars to develop both Starlink and its giant Starship rocket. The company’s valuation reached $ 127 billion in the latest funding round..