Tesla boss Musk mulls SpaceX spinoff, Starlink IPO

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Tesla boss Musk mulls SpaceX spinoff, Starlink IPO

On Thursday, the 6th of February 2020, American Billionaire Elon Musk’s SpaceX had issued a statement saying that the company had been exploring an option of a potential spinoff adding its space internet venture Starlink might witness a public listing over the coming years.

In point of fact, Tesla Inc. owner Elon Musk’s latest plan to list its space internet venture Starlink in to public trading alongside a spinoff of its SpaceX that had plans to launch commercial space tours as early as by 2025, came against the backdrop of an earlier move of Jeff Bezos to build Amazon.com Inc.’s own internet network composed of more than 3,000 satellites in the low-Earth orbit under a project called Kuiper.

Nonetheless, SpaceX, which had been sending 60 satellites in to the low-Earth orbit per month since May last year, had currently 240 satellites circling around the earth, as the company had been mulling a move to offer broadband internet service by capitalizing on its own satellite network by the end of 2020.

Meanwhile, addressing to the possibilities of going public over the coming years, Thursday’s (February 6th) Starlink report was quoted saying “Right now, we are a private company, but Starlink is the right kind of business that we can go ahead and take public. ”