All posts tagged "Starlink"

Elon Musk's Starlink isn't expected to go public until at least 2025, and even then, the billionaire entrepreneur admits, the timeline isn't set in stone. Musk, the world's wealthiest man and CEO of Starlink's parent firm SpaceX, issued a memo to workers on Tuesday, according to CNBC, detailing his projections for when the satellite internet provider will launch its own IPO. That conclusion, according to Musk, is contingent on the company's future business stability. An initial public offering, also known as a stock launch, is a public offering in which a company's shares are sold to institutional and, in most cases, individual investors. One or more investment banks normally underwrite an IPO, and they also arrange for the shares to be listed on one or more stock exchanges. “I’m not sure exactly when that is, but maybe it will be like – I don’t know, just guessing – three or four years from now,” Musk remarked during SpaceX employees' all-hands meeting last Thursday. Musk's assessment is consistent with his previous prediction that Starlink would only go public after its cash flow became more dependable. Musk said on Twitter in June that going public sooner would be "very painful" and that it would take years to get to the point where it was ready for an IPO. Starlink, which is currently run by SpaceX, allows consumers to connect to the internet using a satellite dish that is installed on or near their property. The internet is then transmitted via Starlink satellites orbiting the Earth. Musk has stated that the Starlink satellites will play an important role in his space exploration plans. He has stated that Starlink would be a vital source of funding for his aspirations to send astronauts to Mars, as well as provide significantly greater internet service to remote towns that may not have sufficient access. Starlink has launched over 2,000 operational orbiting satellites and currently serves 32 nations. Starlink has recently been shown to be a critical instrument in the war in Ukraine, where it has assisted in keeping the country linked to the internet in the face of Russian electronic warfare.

Oriental Times

All posts tagged "Starlink"

No Starlink IPO Until At Least 2025 – Elon Musk Predicts

Elon Musk Announces His Starlink Network Is Coming To Nigeria