UPDATE 1-Musk's SpaceX plans IPO for Starlink businessReuters | Updated: 07-02-2020 03:52 IST | Created: 07-02-2020 02:52 IST
This comes at a time when e-commerce giant Amazon.com Inc is planning its own voyage into space. The company plans to build a network of over 3,000 satellites to provide high-speed internet through its Project Kuiper. Earlier in the day, Bloomberg reported the possibility of Starlink going public, citing Chief Operating Officer Gwynne Shotwell.
"Right now, we are a private company, but Starlink is the right kind of business that we can go ahead and take public," the report https://www.bloomberg.com/news/articles/2020-02-06/spacex-likely-to-spin-off-starlink-business-and-pursue-an-ipo quoted Shotwell saying at a private investor event in Miami. Musk said last year Starlink was an important new revenue stream for his California-based Space Exploration Technologies or SpaceX.
The company's so-called Starlink constellation is a planned network of up to 30,000 satellites in low-Earth orbit intended to beam broadband internet globally. In May, SpaceX launched the first batch of 60 small satellites for Starlink internet service.
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