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SpaceX Raising $500 Million To Help Build Its 'Starlink' Satellite Broadband Network (cnbc.com)
According to the Wall Street Journal, SpaceX is raising a $500 million round of fundraising to help build its massive satellite internet project, called Starlink. "The new funding puts SpaceX's valuation at $30.5 billion," reports CNBC. "The report says the capital comes from existing shareholders as well as new investor Baillie Gifford, a Scottish investment firm." From the report: Starlink -- a name SpaceX filed to trademark last year -- is an ambition unmatched by any current satellite network. The company is attempting to build its own constellation of 4,425 broadband satellites, with another 7,518 satellites to come after. SpaceX will begin launching the constellation in 2019. The system will be operational once at least 800 satellites are deployed. Starlink would offer broadband speeds comparable to fiber optic networks.The satellites would provide direct-to-consumer wireless connections, rather the present system's redistribution of signals, transforming a traditionally high-cost, low reliability service.
Despite all the negative publicity surrounding Elon, Tesla, et al, the South African continues to have no trouble attracting capital for new ventures.
We could do much worse betting on a vanguard, since so few seem hellbent on guiding us to a better future outcome.
Happiness in intelligent people is the rarest thing I know.
Ernest Hemingway
Companies trade at a multiple of cash-on-hand, plus the funding will be launching an unprecedented communications constellation next year which will itself be a major driver of ongoing revenue (some from me).
Yeah, that's worth more than $4B.
My God, it's Full of Source!
OUTSIDE_IP=$(dig +short my.ip @outsideip.net)
[visiting Dr. covfefe.....]
patient: Hey doc, I don't feel right. Maybe something has changed.
covfefe: Let me look at you.... organs in body, teeth in head, shoes on feet. Just like last year. Let me know when that changes.