"SpaceX could seek a valuation of $1.75 trillion, according to Bloomberg, which cited anonymous sources. The company expects to raise $75 billion, which would make it the largest IPO in history, far beyond oil giant Saudi Aramco's $29 billion listing in 2019."
"Founded in 2002, SpaceX is the world's leading space company, flying a fleet of reusable rockets and spacecraft, and operating a 10,000-satellite communications network, Starlink. Musk brought Silicon Valley culture to the staid world of space contracting and disrupted the sector."
"Musk said for years that SpaceX would not go public until its spacecraft had reached Mars, but a voracious demand for capital has changed that equation, even as the company has reset its ambitions to aim for the Moon."
SpaceX has confidentially filed for an IPO with the SEC, potentially seeking a valuation of $1.75 trillion. The company plans to raise $75 billion, making it the largest IPO ever. SpaceX has engaged 21 banks for this process, codenamed 'Project Apex.' Founded in 2002, SpaceX leads in space technology with reusable rockets and the Starlink satellite network. Musk's vision has evolved, now focusing on lunar missions and a vast network of satellites, necessitating significant capital for future projects like the Starship rocket.
Read at TechCrunch
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