Elon Musk plans to introduce Starlink to the stock market
The tycoon gave indications that in the future the satellite internet company will be independent from SpaceX and could be listed on the financial markets.
Through a post on Twitter, Elon Musk revealed that he plans to separate Starlink, his satellite internet company, from SpaceX. In addition, it gave hints of when it could go to the stock market, something that many look forward to.
A few years ago the tycoon who owns Tesla declared that the company would go public when his Mars vehicle took people to the red planet . However, investors may have the opportunity to own a part of the company sooner.
During a conversation with his followers, Musk confirmed that the current SpaceX subsidiary, in charge of launching and operating a satellite network to provide the internet, will go public depending on its financial performance.
"It will probably make more sense for Starlink to go public once revenue growth is reasonably predictable," wrote the world's second richest man.
It will most likely make sense for Starlink to go public once the revenue growth is reasonably predictable- Elon Musk (@elonmusk) December 25, 2020
Musk's tweet reinforces comments from Gwynn Shotwell , SpaceX president and chief operating officer. Last February, Bloomberg took up remarks from the executive, noting that SpaceX planned to make Starlink a public and unaffiliated company.
"Starlink is the right kind of business we can go public with," Shotwell said at the time.
Currently, Musk's internet company has about a thousand satellites orbiting in space. Although it estimates to install 12,000 to fully operate, they plan to launch about 42,000 in the coming years.
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Starlink's goal is to provide internet in remote or rural areas where it is not possible to get high-speed internet via cable. At the moment, beta tests show a cost of $ 500 per piece of equipment, which includes antenna, router and other components. Musk's company estimates that users would pay about $ 100 a month for internet service.