According to the latest report, Tesla and SpaceX CEO Elon Musk recently said that SpaceX’s “Starlink” business may go public in three to four years. As early as January 2015, Musk announced the satellite Internet service project, named “Starlink”, which aims to provide high-speed Internet access to users around the world, especially in rural and remote areas.
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At the end of May this year, it was revealed that “Starlink” had more than 400,000 users worldwide, compared with only more than 90,000 users at the beginning of August last year. In addition, SpaceX has launched about 2,500 satellites to support satellite internet systems.
In February 2020, SpaceX President Gwynne Shotwell said at an investor event in Miami that the company plans to spin off its Starlink business and seek an IPO. In September 2020, sources reported that Musk plans to list the “Starlink” business in the next few years.
At the time, he said: “We are likely to IPO the Starlink business, but only if revenue growth is stable and predictable in the next few years.” In December 2020, Musk tweeted that once revenue growth can be reasonably predicted, SpaceX’s “Starlink” business is likely to go public.
In June 2021, Musk once again provided an update on the Starlink IPO. SpaceX’s “Starlink” business could go public when its cash flow is reasonably predictable, he said. He also added: “It will take at least a few years for Starlink’s revenue to be reasonably predictable.
Before that, it will be very painful to go public. I will do my best to give Tesla’s long-term shareholders the first-hand subscription to the Starlink IPO. Recently, Musk emphasized in a plenary meeting with SpaceX employees that the “Starlink” business needs to maintain “stable development” under “good predictability” before it can be divested into a public company.
