SpaceX Plans to Spin Off Its Starlink Satellite Internet Business It could also take Starlink public.

By Mariella Moon Edited by Jessica Thomas

This story originally appeared on Engadget

via engadget
SpaceX Starlink satellites, shown flat-packed in preparation for launch.

SpaceX chief Elon Musk declared years ago that the company won't go public until its Mars vehicle is regularly flying people to the red planet. You might get the chance to own a piece of the company earlier than that, though: According to Bloomberg, SpaceX is thinking of spinning out Starlink, its space internet business, and of taking it public.

Company president Gwynne Shotwell has revealed those plans at a meeting with investors, telling them that "Starlink is the right kind of business that we can go ahead and take public." SpaceX has also confirmed to Quartz that it's considering a Starlink spinoff in the coming years.

SpaceX has deployed almost 300 satellites for the Starlink constellation since it started launching them to orbit last year. By mid-2020, there could be as many as 12,000 satellites in the constellation. SpaceX hopes to begin offering satellite internet to customers as soon as this summer.

Related: Elon Musk Expect's SpaceX's First Crewed Mission Between April and June

Shotwell said at the meeting that Starlink will cost "less than what you are paying now for about five to 10 times the speed you are getting." Despite its promise of an affordable-but-speedy internet, SpaceX expects the business to make it a lot of money. Back when Musk first talked about his vision for a satellite internet network, he said the business "is intended to generate a significant amount of revenue and help fund a city on Mars."

SpaceX might spin Starlink out, because it believes that's how it can make the most money. It's also possible that it wants Starlink to become its own thing, so that the spinoff can earn revenue while the main company focuses on building rockets.

Related: SpaceX Is Building Another Starship in Florida

Mariella Moon is an associate editor at Engadget.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Buying / Investing in Business

Former Zillow Execs Target $1.3T Market

Co-ownership is creating big opportunities for entrepreneurs.

Side Hustle

She Quit Her Job at Trader Joe's After Starting a Side Hustle With $800 — Then She and Her Brother Grew the Business to $20 Million

Jaime Holm and Matt Hannula teamed up to build a business in an industry that "didn't exist" yet.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Growing a Business

This Local Bakery Has Lines Out the Door. Here Are the Secrets to Its Success.

Known for its viral flat croissants and innovative desserts, Alexander's Patisserie also excels in hands-on leadership and team culture.

Business News

Microsoft Is Laying Off Over 6,000 Employees, About 3% of Its Workforce. Here's Why.

The company said the cuts will affect all divisions and locations, with a focus on managers.

Business News

Nissan Is Doubling Its Initial Layoff Announcement, Cutting 20,000 Jobs: 'A Wake-Up Call'

The automaker is dealing with slowing sales and a recent failed merger with Honda.