SpaceX's Starlink could make $30 billion in revenues; 10x more than rocket business

SpaceX just raised another huge funding round of $850 million this week.


Carl Adrian

18 Feb, 2021

SpaceX's Starlink could make $30 billion in revenues; 10x more than rocket business | BEAMSTART News

- From our Sponsors -

Earlier this week, SpaceX closed a huge new funding round of $850 million, with plans to raise another $750 million more soon.

The new funding brings SpaceX's valuation to $74 billion — a staggering amount for a privately held company.

Aside from its core focus of developing rockets for inter-planetary travel, a large part of the funding will be deployed into one of the company's most ambitious projects, Starlink.

The view from a Starlink satellite.

Starlink is an inter-connected satellite network that's capable of "beaming" internet directly to earth — potentially allowing anybody on the planet to have internet access in the near future.

In fact, the company has begun testing Starlink's internet services slightly over 3 months ago, and already has more than 10,000 paying users across the world.

The Starlink constellation, viewable from earth.

According to SpaceX founder, Elon Musk, Starlink will cost about $10 billion to build — double the amount SpaceX has raised in total so far ($5.4 billion).

While that may seem like an unfathomable amount, Musk also added that Starlink has the potential to rake in over $30 billion in revenues by 2025 — more than 10 times the annual revenue of its existing rocket business.

When Starlink reaches the point of healthy cash-flow, Musk plans to spin it off from SpaceX and take the company public.

"Starlink needs to pass through a deep chasm of negative cash flow over the next year or so. Once we can predict cash flow reasonably well, Starlink will IPO", Musk said.

- From our Sponsors -

Latest Jobs

GM / VP Mineral Processing

Impossible Metals

Pasadena, CA, United States

Full Time

Salary Undisclosed

Growth Marketing Manager (B2B-focused)

Snappr

San Francisco, United States

Full Time

Salary Undisclosed

Founding Frontend Engineer (ReactJS)

AlgoTest

Delhi, India, United States

Full Time

Salary Undisclosed

AWS Engineer

CloudEagle.ai

Palo Alto, United States

Contract

Salary Undisclosed

Business Operations

Culdesac

Tempe, AZ, United States

Full Time

Salary Undisclosed

Product Manager, Fintech (NYC/HAM)

doola

New York, United States

Full Time

Salary Undisclosed

Founding Rust Software Engineer

Windmill

Paris, France, United States

Full Time

USD 60000 — USD 120000 yearly

Head of Marketing

Legalist

San Francisco, United States

Full Time

USD 100000 — USD 200000 yearly

Customer Success Manager (Remote)

Mosa Mack Science

NY, United States

Full Time

Salary Undisclosed

Research Scientist Post Doctoral Position

SafeBeat Rx

San Francisco, United States

Full Time

USD 60000 yearly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2022 BEAMSTART. All Rights Reserved (Legal).