Starlink Helps Take Elon Musk's SpaceX Valuation to $100 Billion
Elon Musk's Starlink Plan, a satellite internet constellation being constructed to provide satellite Internet access worldwide is seeing the interest of investors making Elon the biggest player in the IT industry. SpaceX (Elon's Space/Rocket company) is currently handling the Starlink project and firing satellites that look like a chain of stars.
Today, the Starlink project takes SpaceX valuation to a whopping $100 billion that is huge for a company that is still in the process of generating income.
As the Starlink project could change worldwide internet access and coverage system, investors are interested that a US-based investment bank Morgan Stanley valued the project at $81 billion with $12 billion to SpaceX's business and also $9 billion valuations of SpaceX's space travel making the overall worth of Elon Musk's SpaceX over $100 billion.
SpaceX CEO Elon Musk said in a tweet earlier this month:
“Once these satellites reach their target position, we will be able to roll out a fairly wide public beta in the northern US and hopefully southern Canada. he also added, other countries to follow as soon as we receive regulatory approval,”.
Update: SpaceX begins public beta testing of Starlink constellation at $99 a month with a $499 for equipment to support. CNBC reports.
Once these satellites reach their target position, we will be able to roll out a fairly wide public beta in northern US & hopefully southern Canada. Other countries to follow as soon as we receive regulatory approval.
— Elon Musk (@elonmusk) October 6, 2020
To your surprise, the same company was valued at $52 billion just three months ago and now doubled its worth in a “bull case” of the bank Morgan Stanley.
To make a public beta test for an affordable satellite broadband service, SpaceX recently launched 60 Starlink satellites and taking the constellation to 788 the company is tuning the process for a near-future public test as Morgan Stanley research concluded:
“The pieces are coming together for SpaceX to create an economic and technology flywheel”.
In a recent test, Starlink internet service is capable of downloading speed of up to 103Mbps and upload speed of up to 42Mbps with a surprising low latency of 19 milliseconds and there will be 1Gbps internet speed offers for the public (when SpaceX will start its public offering at prices somewhere $99 per month).
