Founded in 2002, Musk’s SpaceX is the busiest rocket operator in the world. It designs, manufactures, and launches advanced rockets and spacecraft.
Elon Musk’s SpaceX, which designs, manufactures, and launches advanced rockets and spacecraft, has been the most valuable startup in the US.
And now this company, which is headquartered in Hawthorne, California, has just gotten even bigger, hitting a valuation of nearly $150 billion.
According to Bloomberg, SpaceX is initially pursuing a $750 million tender offer, said the people familiar with the matter, who asked not to be identified because the information wasn’t public. SpaceX is offering shares at more than $80 apiece, they said.
“According to CNBC, the company did not disclose any plans for raising new capital currently. Instead, the purchase offer they received is for a secondary sale of existing shares.”
In April, Musk stated that the company does “not anticipate the need to raise funding” in order to further support the programs for Starship, Starlink, and other initiatives.
SpaceX typically conducts these secondary rounds approximately twice a year, allowing employees and other company shareholders the opportunity to sell their stock.
The new share price reflects a rise of approximately 5% compared to the previous secondary sale price of $77 per share, which valued the company at around $140 billion. CNBC’s request for comment on the purchase offer went unanswered by SpaceX.
Elon Musk has stated that Twitter continues to experience negative cash flow due to a significant decline of almost 50% in advertising revenue and the burden of a substantial debt load.
Musk tweeted, “We need to achieve positive cash flow before we can afford any other luxuries.” He emphasized the importance of attaining positive cash flow as a priority for Twitter.
Following Musk’s acquisition of Twitter in October, the social media company went through a period of turmoil characterized by various challenges.
This included significant layoffs, criticism regarding inadequate content moderation, and the departure of numerous advertisers who were concerned about their ads being displayed alongside inappropriate content.
Information Source: ndtv
Read More:-
- Elon Musk Admits Twitter Lost 50% Of Ad Revenue, Says Cash Flow Still Negative
- Elon Musk accused of not paying $500 million in severance, ex-employees sue Twitter
- Elon Musk sues 4 unknown people for scraping Twitter data
- Elon Musk launches xAI company to ‘understand true nature of universe’
1 thought on “Elon Musk’s SpaceX: US’s Top Startup Now Worth Nearly $150 Billion”