According to a Bloomberg report on Wednesday, SpaceX is said to be considering spinning off its satellite internet business, Starlink, through an initial public offering (IPO) next year. While no final decision has been made, the report suggests that the IPO could potentially be delayed until 2025.
SpaceX has projected that Starlink could generate up to $10 billion in revenue by 2024. This estimation demonstrates the company’s confidence in the potential success and market demand for its satellite internet service.
Starlink, a subsidiary of SpaceX, aims to provide global internet coverage through a network of thousands of satellites in low Earth orbit. The constellation of satellites aims to offer high-speed, low-latency internet access to rural and remote areas that currently lack reliable connectivity options.
The potential IPO would offer an opportunity for investors to participate in the growth and potential profitability of Starlink. By separating Starlink from SpaceX through a public listing, it could allow the satellite internet business to focus on its own strategic goals and generate additional capital for expansion.
The demand for reliable internet connectivity continues to rise globally, and Starlink’s ambitious plans and progress in deploying its satellite network have garnered significant attention. With an IPO, Starlink would have the means to accelerate its satellite launches and infrastructure development, further strengthening its position in the satellite internet market.
However, it is important to note that no official announcement has been made regarding the IPO, and the potential listing may still be subject to change depending on market conditions and SpaceX’s strategic considerations.
In summary, SpaceX is reportedly exploring the option of launching an IPO for its satellite internet subsidiary, Starlink, in 2022. The potential listing could potentially provide Starlink with additional resources for expansion as it seeks to provide global internet coverage through its satellite network.