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SpaceX To Raise $750m At $137bn valuation - CNBC

By Dave Simpson

Elon Musk's SpaceX is raising $750 million in a new round of funding that values the rocket and satellite company at $137 billion from investors, including Andreessen Horowitz, CNBC has reported.

Details

Reuters had reported in November that SpaceX was in talks about an offering of mostly secondary shares that could value the company at up to $150 billion, representing a 20% increase in valuation.

SpaceX, which counts Alphabet Inc GOOGL.O and Fidelity Investments among its investors, had raised about $1.68 billion through equity financing in June.

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Spokespersons for SpaceX and Horowitz did not immediately respond to Reuters' requests for comment. Horowitz was also a co-investor in Musk's Twitter buyout deal worth $44 billion.

SpaceX has launched numerous cargo payloads and astronauts to the International Space Station for the National Aeronautics and Space Administration (NASA).

Starlink, SpaceX's growing network of thousands of internet satellites, is looking at generating major revenue with commercialized applications such as the rollout of high-speed internet on commercial airlines.

Competitors

SpaceX competes with Amazon.com founder Jeff Bezos's space venture Blue Origin and billionaire Richard Branson's Virgin Galactic.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

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Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.
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