SpaceX had a wonderful time this year as their projects were mostly successful. The company’s Falcon missions brought in critical acclaim for the company, and it shows in their latest valuation.
The company is currently looking for a funding of $507 million, and this will effectively take the company’s overall value to $25 billion. When the new funds are added to SpaceX’s total share, Musk’s personal fortune will increase by $1.4 billion.
This effectively brings his total share amount to about $21.3 billion.
According to Bloomberg, if the deal does go through all the way, SpaceX will become the third most valuable venture-backed startup in the United States. The first two spots are taken by UBER technologies Inc. and Airbnb Inc., respectively.
SpaceX achieved such a remarkable feat by gaining credibility from the investors. The company was started by Elon Musk to realize the dream of sending Man to Mars. Recently, the company showed how their reusable rockets were a massive success.
In 2018, SpaceX has planned 30 missions of which, 7 have already been done.
Currently, the company has brought in about $500 million. The shares were priced at $169 per piece and the company has issued 2 million new shares.
SpaceX: The Future of Space Exploration
SpaceX’s latest project is the Falcon 9, scheduled to take off on April 16, 2018, 6:32 PM EST. This project involves Falcon 9 carrying NASA’s Transiting Exoplanet Survey Satellite (TESS) to space.
The new satellite will be used to survey the space to find new planets and gas giants over a span of 2 years. The company is also busy pouring in efforts to building the BFR – the SpaceX rocket that is being built to travel to Mars, and a host of other satellites that they are aiming to launch into space.
Recently, Elon faced criticism from journalists and analysts over Tesla’s failure to churn out enough profit. Many speculated that Tesla must raise about $3 billion in 2018 to remain sustainable.
But the rumors were put to rest by Elon’s reply to The Economist’s twitter post that read – “The Economist used to be boring, but smart with a wicked dry wit. Now it’s just boring (sigh). Tesla will be profitable & cash flow+ in Q3 & Q4, so obv no need to raise money.”
Everybody Wants SpaceX Shares!
According to Robert Hilmer, Global Head of Business Development at Equidate, SpaceX is proving to get funds more easily than any private technology company.
"SpaceX is one of [the most], if not the most, popular pre-IPO tech companies globally," Hilmer told CNBC. He also added that many investors that he knows are very interested buying SpaceX shares. "There is an unlimited amount of funding that the company could probably access globally in private markets," Robert said.
Many analysts believe that SpaceX shares are selling like hotcakes because of their business plan. It seems that Elon and his companies are in high spirits and they are having a great year so far!