Elon Musk's SpaceX plans to spin off its internet venture, Starlink and pur...
FILE PHOTO - A crowd gathers before SpaceX's Elon Musk gives an update on the company's Mars rocket Starship in Boca Chica, Texas U.S. September 28, 2019. REUTERS/Callaghan O'Hare
- Elon Musk’s SpaceX plans to spin off its internet venture, Starlink and pursue an initial public offering for the unit, Bloomberg reported on Thursday, citing the rocket company’s chief operating officer, Gwynne Shotwell. “Right now, we are a private company, but Starlink is the right kind of business that we can go ahead and take public,” Shotwell was quoted as saying at a private investor event hosted by JPMorgan Chase & Co in Miami.Musk said last year that Starlink venture was an important new revenue stream for his California-based Space Exploration Technologies, or SpaceX.
The private rocket company launched the first batch of 60 small satellites into low-Earth orbit in May for Starlink internet service.
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