• Nigerian/African Tech
  • Start Up
  • Internet
    • App
    • Mobile
    • Software
  • Gadgets
  • Money
  • Video
Tech News, Magazine & Review WordPress Theme 2017
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips
Generic selectors
Exact matches only
Search in title
Search in content
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips
Generic selectors
Exact matches only
Search in title
Search in content
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content

SpaceX Surpasses $100 Billion Valuation After Secondary Share Sales

Femi by Femi
October 8, 2021
Home Enterprise
Share on FacebookShare on Twitter

Following a share sale by existing investors at the company, Elon Musk-owned SpaceX’s valuation has passed $100 billion. According to reports, the space company had an agreement with both new and existing to sell stock from insiders up to $755 million at $560 per share.

Also On TechBooky

Nigerian Logistics Startup Topship Closed A $2.5m Funding Round

Nigeria’s Autochek Acquires Morocco’s KIFAL Auto

Kenya’s Mobile-first Enterprise Software Startup Bamba Raises $3.2m

Microsoft SharePoint Is The Solution That Organization Expects Today

Egypt’s Mylerz Raises $9.6m To Scale Its E-commerce Fulfilment Operations

According to reports and inside sources, SpaceX did not raise new capital but instead had a secondary sale of existing shares which increased the company’s valuation to $100.3 billion. The new share price means that SpaceX’s valuation has increased by 33 percent from $74 billion at $419,99 per share in February to its recent valuation of $100.3 billion at $560 per share. SpaceX raised $1.2 billion in February and also had secondary share sales that saw insiders sell up to $750 million in stock.

When companies see their valuation surpass a billion dollars, they are accorded the title of a unicorn. While this is not rare, it is not every day we see the valuation of a company surpass a hundred billion dollars. SpaceX, therefore, is one of the world’s rarest private “centicorn” – a company worth at least a hundred billion dollars. SpaceX is now the world’s second most valuable private company standing behind China’s ByteDance and above payments company Stripe.

In May this year, the aerospace manufacturer and space transport company announced plans to launch a “DOGE-1 Mission to the Moon” by the first quarter of next year and was accepting Shiba Inu-based cryptocurrency Dogecoin as full payment for the lunar payload.

SpaceX (alongside its other sibling companies owned by Elon Musk) has seen its valuation grow astronomically. The company has raised billions of dollars to fund projects like Starlink and Starship, which are highly capital intensive.

Under Starlink, the company plans to build an interconnected space internet network. The project will see thousands of satellites, otherwise referred to as a constellation that will be used to deliver high-speed internet to users anywhere they are in the world. To date, 1740 satellites have been launched and more than 100,000 users in more than ten countries have begun using Starlink’s services in a beta program priced at $99 a month. The company revealed plans to launch its satellite internet in Nigeria in May and said it was already working on acquiring required licenses.

On the other hand, Starship is the company’s project that aims to build huge next-generation rockets that can transport people to the moon and Mars. The company is currently testing prototypes at its Southern Texas facility and has completed some test flights and is currently waiting for regulatory approval for its next flight. However, co-billionaires Richard Branson and Jeff Bezos have successfully completed human travel on their Virgin Galactic and New Shepard respectively.

SpaceX is yet to respond to requests for comments about its new valuation.

Related Posts:

  • SpaceX Launches 52 Starlink Satellites Into Orbit
    SpaceX Launches 52 Starlink Satellites Into Orbit
  • Tesla And SpaceX Founder Elon Musk Is Now Richest Person In The World
    Tesla And SpaceX Founder Elon Musk Is Now Richest Person In…
  • Electric Vehicle Company Rivian Raises IPO Price Range, May Be Valued At $65b
    Electric Vehicle Company Rivian Raises IPO Price Range, May…
  • Breaking: Apple Becomes First Company To Hit $3 Trillion Valuation
    Breaking: Apple Becomes First Company To Hit $3 Trillion…
  • Nigeria's Flutter Now Valued At Over $3b With New Funding
    Nigeria's Flutter Now Valued At Over $3b With New Funding
  • World Richest Man, Elon Musk To Quit His Jobs To Become An Influencer?
    World Richest Man, Elon Musk To Quit His Jobs To Become An…
  • Apple Is Now A 2 Trillion Dollar Company, The Size Of Italy's GDP And Nearly That Of Africa
    Apple Is Now A 2 Trillion Dollar Company, The Size Of…
  • Elon Musk Purchased Virgin Galactic’s Space Ticket
    Elon Musk Purchased Virgin Galactic’s Space Ticket
Tags: elon muskspacespacexvaluation
Previous Post

Uber Launches In Ibadan And Port Harcourt In Nigeria

Next Post

It Looks Like Facebook Could Be Down Again For The Second Time This Week

Femi

Femi

Paul Balo is a wireless communications technologist with interests in VoIP and 5G technologies. He leads the writing team at TechBooky

Next Post
Facebook And Instagram Apps  Experienced  A Downtime Yesterday And We Still Don’t Know Why

It Looks Like Facebook Could Be Down Again For The Second Time This Week

BROWSE BY CATEGORIES

Receive top tech news directly in your inbox

Loading

Recent

Facebook Changes Company Name To Meta As It Plans Big On VR

Amazon Exec Takes A Swipe At Zuckerburg’s Metaverse Fantasy

May 21, 2022
Qualcomm’s Introduces All New Wireless AR Smart Glasses

Qualcomm’s Introduces All New Wireless AR Smart Glasses

May 20, 2022
Canada Bans The Use Of Huawei and ZTE Equipment In Its 5G Networks

Canada Bans The Use Of Huawei and ZTE Equipment In Its 5G Networks

May 20, 2022
Top 5 Effective Ways Of Link Building

Top 5 Effective Ways Of Link Building

May 20, 2022
Nigerian Logistics Startup Topship Closed A $2.5m Funding Round

Nigerian Logistics Startup Topship Closed A $2.5m Funding Round

May 20, 2022
Nigeria’s Autochek Acquires Morocco’s KIFAL Auto

Nigeria’s Autochek Acquires Morocco’s KIFAL Auto

May 20, 2022
Kenya’s Mobile-first Enterprise Software Startup Bamba Raises $3.2m

Kenya’s Mobile-first Enterprise Software Startup Bamba Raises $3.2m

May 20, 2022
South Africa Plans Digital Currency In Future As It Seeks To Regulate Crypto Assets

South Africa Plans Digital Currency In Future As It Seeks To Regulate Crypto Assets

May 20, 2022
IPOB: The Nigerian Govt Warns Facebook About Allowing Separatist Content

IPOB: The Nigerian Govt Warns Facebook About Allowing Separatist Content

May 20, 2022
US Department Of Justice Will No Longer Prosecute Good-Faith Hackers

US Department Of Justice Will No Longer Prosecute Good-Faith Hackers

May 20, 2022

Browse Archives

May 2022
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
3031 
« Apr    

Receive top tech news directly in your inbox

Loading

About Us

TechBooky

TechBooky is a social Tech blog with a special focus on the budding African Technology sector. TechBooky is currently based in Abuja, Nigeria.

Subscribe to TechBooky

Enter your email address to subscribe to TechBooky and receive notifications of new posts by email.

Join 17,981 other subscribers.

Popular Tags

AI (224) android (259) app (531) Apple (419) artificial intelligence (232) business (261) china (111) cloud (125) cryptocurrency (133) ecommerce (104) enterprise (226) facebook (459) gadget (383) gaming (145) google (521) government (361) guest post (108) instagram (129) internet (319) ios (217) iphone (178) microsoft (249) mobile (247) new feature (237) nigeria (265) privacy (124) research (131) samsung (125) security (345) smartphone (198) social media (623) software (364) startup (230) streaming (127) telecom (152) tips (306) transport (98) twitter (190) uber (88) united states (178) users (92) videos (105) website (135) whatsapp (123) youtube (98)

Quick Links

  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips

Popular Post

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Top 2 Methods To Convert CSV To vCard/VCF In 2022

Top 2 Methods To Convert CSV To vCard/VCF In 2022

February 2, 2022
How Can We Unlock VBA Project Password Without Hex Editor?

How Can We Unlock VBA Project Password Without Hex Editor?

December 23, 2020
Recover Deleted Messages from Thunderbird Email

Recover Deleted Messages from Thunderbird Email

April 7, 2020
[Fixed] “Outlook Running Slow Windows 10” Issue

[Fixed] “Outlook Running Slow Windows 10” Issue

February 12, 2020
Samsung Unveils New Mid-range Devices With Expanded Batteries

Samsung Unveils New Mid-range Devices With Expanded Batteries

March 18, 2022
How is Technology Changing Our Definition of What It Means to Be a Human?

How is Technology Changing Our Definition of What It Means to Be a Human?

April 1, 2018
Facebook Changes Company Name To Meta As It Plans Big On VR

Amazon Exec Takes A Swipe At Zuckerburg’s Metaverse Fantasy

May 21, 2022
Qualcomm’s Introduces All New Wireless AR Smart Glasses

Qualcomm’s Introduces All New Wireless AR Smart Glasses

May 20, 2022
Canada Bans The Use Of Huawei and ZTE Equipment In Its 5G Networks

Canada Bans The Use Of Huawei and ZTE Equipment In Its 5G Networks

May 20, 2022
Top 5 Effective Ways Of Link Building

Top 5 Effective Ways Of Link Building

May 20, 2022
Nigerian Logistics Startup Topship Closed A $2.5m Funding Round

Nigerian Logistics Startup Topship Closed A $2.5m Funding Round

May 20, 2022
Nigeria’s Autochek Acquires Morocco’s KIFAL Auto

Nigeria’s Autochek Acquires Morocco’s KIFAL Auto

May 20, 2022

Recent News

Facebook Changes Company Name To Meta As It Plans Big On VR

Amazon Exec Takes A Swipe At Zuckerburg’s Metaverse Fantasy

May 21, 2022
Qualcomm’s Introduces All New Wireless AR Smart Glasses

Qualcomm’s Introduces All New Wireless AR Smart Glasses

May 20, 2022
Canada Bans The Use Of Huawei and ZTE Equipment In Its 5G Networks

Canada Bans The Use Of Huawei and ZTE Equipment In Its 5G Networks

May 20, 2022
Top 5 Effective Ways Of Link Building

Top 5 Effective Ways Of Link Building

May 20, 2022
Nigerian Logistics Startup Topship Closed A $2.5m Funding Round

Nigerian Logistics Startup Topship Closed A $2.5m Funding Round

May 20, 2022
Nigeria’s Autochek Acquires Morocco’s KIFAL Auto

Nigeria’s Autochek Acquires Morocco’s KIFAL Auto

May 20, 2022
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact us
  • Privacy Policy
  • Disclaimer
  • Login

© 2021 Design By Tech Booky Elite

Generic selectors
Exact matches only
Search in title
Search in content
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips

© 2021 Design By Tech Booky Elite

Posting....