Starlink, the satellite internet technology developed by Elon Musk’s SpaceX company, is reportedly getting ready for an initial public offering (IPO) in the second half of 2024, according to sources familiar with the matter. Bloomberg reveals that SpaceX has been transferring Starlink’s assets to a wholly-owned subsidiary, which could facilitate a spin-off before the IPO. However, there hasn’t been a definitive decision regarding the timing of the listing, and it might be pushed back to 2025.

Elon Musk had previously hinted at a potential IPO for Starlink once the company could reliably forecast cash flow. This comment came after Musk tweeted about Starlink achieving break-even cash flow and becoming the majority provider of active satellites. It’s worth noting that Musk has been discussing the possibility of a Starlink IPO for years, but the specifics remain uncertain. Billionaire investor Ron Baron projects that SpaceX and Starlink combined could be worth $250-300 billion by the time of the IPO, anticipating a listing in 2027.

Another highlight is the exponential growth in Starlink’s customer base. Tesla blogger Sawyer Merritt shared a graph on social media, illustrating a parabolic increase in new customer onboarding since June 2022. Currently, Starlink boasts over 2 million users worldwide.

SpaceX, the parent company of Starlink, currently holds a valuation of $150 billion. Notably, SpaceX is recognized for delivering 80% of the Earth’s payload mass to orbit this year. On a different note, there are reports that SpaceX’s Starship could undergo its next launch as early as this Friday.

It’s important to mention that this information is sourced from Bloomberg, and while it provides insights about Starlink’s potential IPO, the specific details and timeline are subject to change.