Space X soon to be valued at $36 billion

Elon Musk’s Space X has announced that it is looking to raise about 250 million dollars in the upcoming month. The new round of funding will take the valuation of the company up to 36 billion dollars. It is not yet clear as to who will lead the funding round but the company plans to raise it at a cost of $220 per share by the second week of March. 

 

Space X has not come out with an official statement on the funding round yet but a detailed report on the latest funding has been published by CNBC. 

 

Space X at the moment is working to establish its Starlink satellite network, for which it is launching satellites in batches of 60 since May 2019. Currently 300 Space X satellites orbit Earth to make broadband and internet speeds even faster by the end of 2020 for the US and Canada. 

 

Musk has plans to use the revenue from Starlink to fund its next-generation rocket dubbed starship, designed to lift dense payloads to space and send humans to the moon. Space X is also currently preparing for its first manned mission to space under NASA’s Commercial Crew Program. And is developing its Crew Dragon Taxi. The dates for the launch is expected to be in May 2020, however, it is subject to change. 

{{getArticleReviewList.length}} Comments
{{item.FirstName}} {{item.LastName}}

{{item.LastActivityOn | date:'dd MMM, yyyy hh:mm:ss a'}}

{{item.Description}}

Taniya Tikoo

Editor-in-Chief & Co-Founder at ObserveNow. A Mountain girl using the power of words to change the world.

I dream to wake up to a world where I see a thriving Kashmir, a free Palestine and a Free Tibet 

Post Comment

Please enter first name.
Please enter at least one latter.