Musk’s Starlink Likely To Go Public, Says COO

Musk’s Starlink (internet-from-space) Likely To Spinoff And Go Public, Says COO. Investors who betted on Tesla a few years ago are happy right now that the value of their stocks are higher than they were six months ago. Interestingly, it appears that one of Elon Musk’s companies is going public soon. Space X’s Starlink may soon spinoff and take the business to the public, according to a recent report.

Starlink Going Public Soon

SpaceX is a privately held space tech company headed by Elon Musk. One of its initiatives is the ambitious Starlink. It is an assemblage of almost 12,000 satellites developed to produce high-speed internet coverage to all parts of the world. Space Exploration Tech Corp has launched over 240 satellites to build this ambitious project.

Starlink plans to provide internet services from space to customers as early as this summer. Space X is also planning to launch 24 missions this year and intends to send 60 satellites for every flight. On Thursday, Space X President Gwynne Shotwell shared at a private investor event hosted by JPMorgan Chase & Co. in Miami that Starlink is the kind of business that can go ahead and take public.

When Can Starlink Go Public?

Starlink to go on initial public offering is a massive leap for the Space X. It has remained private ever since it was established in 2002. Elon Musk is known to have no inclination to publicly traded companies.

In the past, the Tesla CEO said that he would not take Space X to the public until it was able to complete the company’s vehicle for Mars. In an email to his employees in 2013, Musk said, “some at SpaceX who have not been through a public company experience may think that being public is desirable. This is not so. Public company stocks, particularly if big step changes in technology are involved, go through extreme volatility, both for reasons of internal execution and for reasons that have nothing to do with anything except the economy.”

Starlink was advertised before as a crucial part of the future of Space X. Elon Musk said that the revenue from the project would be used to fund their initiative of sending people to Mars and Moon. The company, at present, is working on a rocket dubbed as Starship, for its interplanetary activities.