BEAMSTART Logo

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.


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

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.

ABOUT THE AUTHOR

Carl Adrian

Partnerships & Content Coordinator at BEAMSTART

Based in Singapore

Works at BEAMSTART

ALSO MENTIONED IN THIS POST

SpaceX

SpaceX designs, manufactures and launches advanced rockets and spacecraft.

Industry:

Opportunities:


Have a company of your own? Create a company profile today and easily find customers, raise funds, or hire talent.

BEAMSTART is a Hub for Startup News, Business Networking, and Entrepreneurial Resources. Expand your network, discover new possibilities, and tap into a vast database of resources that can help you go further in your business and career.

 

Download the App

The app for business networking and startup resources. Be part of the global community of CEOs, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

PlayStore ButtonAppStore Button

© 2016 - 2021 BEAMSTART. All Rights Reserved (Legal).