SpaceX skyrockets in possible new valuation of $175B

SpaceX, under the stewardship of Elon Musk, is making financial strides, with an implied company value of approximately $175B, up $25B from its summer value, as per a Bloomberg report.

• What's Happening: The company is contemplating a share sale at $95 per share, aiming to yield between $500M and $750M. A valuation of $150B was ascribed to SpaceX last June when it achieved its previous fundraising goal.

• Previous Funding: In January, a funding round led by Andreessen Horowitz brought about $750M at a $137B valuation. This implied valuation potentially places SpaceX among the globe's most valuable corporations.

• Background: Founded by Musk in 2002, SpaceX has Mars colonization in its sights and leads in the space race with 69 orbital launches in the first nine months of 2023.

• Launch Activities: Despite a second failed test flight of its Starship mega-rocket in November, it flew further than its initial explosive launch. The Starship stands as the heaviest space launch vehicle so far, anticipated to be completely reusable and transport passengers to Mars.

• Profitability: After two years of losses, SpaceX turned a profit of $55M in Q1 2023 on revenues of $1.5B.

Additionally, Musk has denied rumors that SpaceX was weighing up a stock market listing for its satellite internet division, Starlink, in the coming year.