• 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
Post Type Selectors
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Home Enterprise

SpaceX Surpasses $100 Billion Valuation After Secondary Share Sales

Femi by Femi
October 8, 2021
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

Elon Musk’s Neuralink Gets Green Light For First Human Trial for Brain Implant

ChatGPT Parent OpenAI Rakes In About $80m Monthly, On Track For $1b In 12 Months

Amazon CEO Andy Jassy Is Asking Remote Workers To Return

AI Needs ‘Human Control’ To Avoid Being Weaponised, Says Microsoft’s President

Guide To Building an Enterprise API Strategy

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.

Tags: elon muskspacespacexvaluation
Femi

Femi

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

BROWSE BY CATEGORIES

Freshly Squeezed

  • LimeWire’s Unexpected Transformation From Music Piracy To Generative AI September 20, 2023
  • The iPad Is Finally Getting The WhatsApp App – Sort Of September 20, 2023
  • Elon Musk’s Neuralink Gets Green Light For First Human Trial for Brain Implant September 20, 2023
  • iPhone 15 vs. Top Competitors: A Comprehensive Comparison September 19, 2023
  • Elon Musk Says X Is Moving Towards Subscription Fees September 19, 2023
  • Google’s Bard Gets Big Changes, Now Connects To Gmail And Other Services September 19, 2023

RSS More from TechBooky Africa

  • The Best Android Smartwatches of 2023.  September 13, 2023 Eni Emeka
  • “Crypto vs. Taxes” — The Blockchain Association of Kenya Takes on the Government. September 2, 2023 Eni Emeka
  • Chargel Is A Catalyst for Transformation in Cote d’Ivoire’s Energy Landscape. September 2, 2023 Eni Emeka
  • Black Ostrich Ventures’ $20m Equity Funding for Pre-Seed & Other Early-Staged Start-Up Investment Grant. September 1, 2023 Eni Emeka
  • MTN Nigeria Commercial Paper Deal Impact The Gravity Of Adequate Working Capital Equity For Businesses & The Industry. August 31, 2023 Eni Emeka
  • Airtel Uganda Projectile IPO Estimated Worth, Hovers At $215 Million & Above. August 31, 2023 Eni Emeka
  • Bank of Ghana Issued Eganow Operational ePayment Service License, …is Disrupting The Country’s FinTech Industry. August 30, 2023 Eni Emeka
  • Plural AI Opens Shop In South Africa & Nigeria To Track Public Policies. August 30, 2023 Eni Emeka
  • TymeBank is Making Banking More Affordable and Convenient With “Zero Transaction Fee” Via “PayShap” August 30, 2023 Eni Emeka
  • HIGHLIGHTS — Techcrunch Disrupt Equity Battlefield Got Start-ups Pitching Innovative Tech Solutions Per Africa’s Biggest Challenger. August 30, 2023 Eni Emeka

Receive top tech news directly in your inbox

Loading

RSS More from TechBooky Business

  • Instacart’s Strong Nasdaq Debut Sees 12% Stock Surge At Closing Yesterday September 20, 2023 Femi Balo
  • DoorDash To Move Listing from NYSE to Nasdaq September 15, 2023 Femi Balo
  • Arm Holdings Gains Continue On Nasdaq Debut Week September 15, 2023 Femi Balo
  • Oracle Faces Investor Concerns as Q1 Earnings Disappoint September 15, 2023 Femi Balo
  • HP Faces Investor Concerns as Q3 Earnings Fall Short of Expectations September 2, 2023 Femi Balo
  • Klarna Shows Strong Progress Toward Profitability With A 67% Reduction In Losses September 2, 2023 Femi Balo
  • Salesforce Surpasses Expectations With Strong Quarterly Earnings September 2, 2023 Femi Balo
  • OpenAI On Track To Make $1b In Revenue In 12 Months August 30, 2023 Femi Balo
  • BYD’s Remarkable Profit Surge and Electric Vehicle Triumph August 29, 2023 Femi Balo
  • Baidu Reported A Strong Q2 Performance August 29, 2023 Femi Balo

Browse Archives

September 2023
M T W T F S S
 123
45678910
11121314151617
18192021222324
252627282930  
« Aug    

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 17,656 other subscribers.

Receive top tech news directly in your inbox

Loading

Popular Tags

AI (307) amazon (96) android (304) app (664) Apple (500) artificial intelligence (332) business (419) china (117) cloud (141) cryptocurrency (164) ecommerce (112) enterprise (257) facebook (482) gadget (498) gaming (177) google (579) government (403) guest post (109) instagram (147) internet (387) ios (262) iphone (220) microsoft (282) mobile (321) new feature (329) nigeria (282) privacy (146) research (134) samsung (153) security (387) smartphone (257) social media (716) software (460) startup (272) streaming (149) telecom (159) tips (351) transport (109) twitter (250) united states (205) users (157) videos (116) website (166) whatsapp (136) youtube (110)

Quick Links

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

RSS African Tech News

  • The Best Android Smartwatches of 2023.  September 13, 2023 Eni Emeka
  • “Crypto vs. Taxes” — The Blockchain Association of Kenya Takes on the Government. September 2, 2023 Eni Emeka
  • Chargel Is A Catalyst for Transformation in Cote d’Ivoire’s Energy Landscape. September 2, 2023 Eni Emeka
  • Black Ostrich Ventures’ $20m Equity Funding for Pre-Seed & Other Early-Staged Start-Up Investment Grant. September 1, 2023 Eni Emeka
  • MTN Nigeria Commercial Paper Deal Impact The Gravity Of Adequate Working Capital Equity For Businesses & The Industry. August 31, 2023 Eni Emeka
  • Airtel Uganda Projectile IPO Estimated Worth, Hovers At $215 Million & Above. August 31, 2023 Eni Emeka
  • Bank of Ghana Issued Eganow Operational ePayment Service License, …is Disrupting The Country’s FinTech Industry. August 30, 2023 Eni Emeka
  • Plural AI Opens Shop In South Africa & Nigeria To Track Public Policies. August 30, 2023 Eni Emeka
  • TymeBank is Making Banking More Affordable and Convenient With “Zero Transaction Fee” Via “PayShap” August 30, 2023 Eni Emeka
  • HIGHLIGHTS — Techcrunch Disrupt Equity Battlefield Got Start-ups Pitching Innovative Tech Solutions Per Africa’s Biggest Challenger. August 30, 2023 Eni Emeka

RSS Business Tech News

  • Instacart’s Strong Nasdaq Debut Sees 12% Stock Surge At Closing Yesterday September 20, 2023 Femi Balo
  • DoorDash To Move Listing from NYSE to Nasdaq September 15, 2023 Femi Balo
  • Arm Holdings Gains Continue On Nasdaq Debut Week September 15, 2023 Femi Balo
  • Oracle Faces Investor Concerns as Q1 Earnings Disappoint September 15, 2023 Femi Balo
  • HP Faces Investor Concerns as Q3 Earnings Fall Short of Expectations September 2, 2023 Femi Balo
  • Klarna Shows Strong Progress Toward Profitability With A 67% Reduction In Losses September 2, 2023 Femi Balo
  • Salesforce Surpasses Expectations With Strong Quarterly Earnings September 2, 2023 Femi Balo
  • OpenAI On Track To Make $1b In Revenue In 12 Months August 30, 2023 Femi Balo
  • BYD’s Remarkable Profit Surge and Electric Vehicle Triumph August 29, 2023 Femi Balo
  • Baidu Reported A Strong Q2 Performance August 29, 2023 Femi Balo

Recent News

LimeWire’s Unexpected Transformation From Music Piracy To Generative AI

LimeWire’s Unexpected Transformation From Music Piracy To Generative AI

September 20, 2023
WhatsApp Will Now Allow Improved Preview For Documents

The iPad Is Finally Getting The WhatsApp App – Sort Of

September 20, 2023
Elon Musk’s Neuralink Gets Green Light For First Human Trial for Brain Implant

Elon Musk’s Neuralink Gets Green Light For First Human Trial for Brain Implant

September 20, 2023
iPhone 15 vs. Top Competitors: A Comprehensive Comparison

iPhone 15 vs. Top Competitors: A Comprehensive Comparison

September 19, 2023
Elon Musk Says X Is Moving Towards Subscription Fees

Elon Musk Says X Is Moving Towards Subscription Fees

September 19, 2023
Google’s Bard Gets Big Changes, Now Connects To Gmail And Other Services

Google’s Bard Gets Big Changes, Now Connects To Gmail And Other Services

September 19, 2023
  • 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
Post Type Selectors
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips

© 2021 Design By Tech Booky Elite