The Strategist

Business Insider: SpaceX intents to double its valuation

12/16/2020 - 02:46

SpaceX, owned by Elon Musk, is set to raise money just four months after its last round. The company hopes to be valued at twice as much as last time.

Juan Kulichevsky
Juan Kulichevsky
Billionaire Elon Musk's SpaceX is in talks for a new investment round, two sources told Business Insider. According to them, SpaceX is discussing doubling its valuation, from $46bn to $92bn. 

The investment talks are at an early stage and the exact valuation of the company in the round has not yet been determined, one of the sources told. The process of determining which investors can buy shares in the company and how much they will pay for them could take several weeks, he said. SpaceX plans to close the deal in January 2021, the sources said.

SpaceX may not be able to convince investors to accept such a high valuation, Business Insider stresses. "Frankly, it's a pretty big shock to me. What kind of company doubles its valuation within six months?", one source said. SpaceX had already raised $1.9bn in August, raising the company's valuation to $46bn, Bloomberg reported.

In May, SpaceX was the first in the world to launch a private spacecraft with astronauts aboard for the International Space Station. Two crew members of the spacecraft, NASA astronauts Bob Behnken and Doug Hurley, returned to Earth in August. In November, the company sent four more people to the ISS. Last week, it also tested the Starship spacecraft, designed to send people and cargo to the orbit of the Earth, the Moon and Mars. Although Starship exploded on landing, Musk called the tests a success.