SpaceX is currently considering the possibility of an IPO for its Starlink satellite business. According to anonymous sources, the company has already started preparing for the IPO by separating the assets of the satellite division into a separate subsidiary. However, the launch of the IPO may be postponed until 2025, according to other sources. A SpaceX representative did not respond to questions from reporters, and Elon Musk, the founder and CEO of SpaceX, called the information about the IPO “false” on a social network, without providing further details.
In 2022, Musk informed employees that the debut on the public market may not happen for several more years. However, the pace of development of the Starlink business has increased recently. SpaceX expects Starlink sales to reach around $10 billion next year, surpassing its rocket launch business and accounting for two-thirds of its total revenue.
While the financial position of the company is not disclosed, Musk announced on November 2 that Starlink has reached break-even cash flows, which is a significant achievement considering its goal just a year ago was not to go bankrupt.
Founded in 2002, SpaceX owns a constellation of over 5,000 low-Earth orbit satellites that provide high-speed Internet connectivity to customers in more than 60 countries. The company plans to continue massive financing of the Starlink project.