Technology

SpaceX reportedly raised the best part of a billion dollars to fund future missions

SpaceX reportedly raised the best part of a billion dollars to fund future missions
SpaceX

SpaceX has reportedly raised $850 million in a round of funding, in transactions that would value shares of the company at $419.99 each. According to CNBC, this would mean the company is worth around $74 billion. It would also mean that the company has money to continue on with its future projects.

As one could imagine, some of SpaceX’s projects are deeply unprofitable before they start making money — for instance, earlier this month Elon Musk said that there’s a “deep chasm of negative cash flow” between the company’s satellite-based internet service provider Starlink and profitability. The company’s plan to send enough satellites to create a global, high-speed internet network is expensive, and since the service is still in the beta…

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