Elon Musk said Starlink will list publicly once the cash flow of the space-based internet service can be predicted “reasonably well,” giving investors a window of opportunity to own a promising part of his closely held SpaceX.
Musk was responding to a question on Twitter, where a user asked: “Will starlink IPO soon? Would love to invest!”
Prior to that question, Musk had been responding to posts on the cost of the service provided by Starlink. Space Exploration Technologies Corp. has been launching satellites on its Falcon 9 rockets and now has about 1 000 in orbit to beam down data to Starlink customers on Earth.
“SpaceX needs to pass through a deep chasm of negative cash flow over the next year or so to make Starlink financially viable,” Musk wrote in another tweet. “Every new satellite constellation in history has gone bankrupt. We hope to be the first that does not.”
SpaceX Chief Operating Officer Gwynne Shotwell said last year that Starlink is the business that the company would likely spin out and take public.
Musk’s Tesla has achieved incredible gains in the stock market, rising 743% in 2020. The electric-vehicle maker is already up a further 22% this year.