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SpaceX CEO Elon Musk said in a tweet on Tuesday that Starlink, a worldwide broadband network created by a constellation of satellites, could launch an initial public offering as soon as the aerospace company could “predict the flow of box reasonably well “.
“SpaceX needs to go through a deep abyss of negative cash flow next year or later to make Starlink financially viable. Every new satellite constellation in history has failed. We hope to be the first one that will not,” added Musk in a separate tweet. “Starlink is an incredibly difficult technical and economic endeavor. However, if we don’t fail, the cost to end users will increase every year.”
Musk’s latest statements echo comments made by SpaceX President Gwynne Shotwell last year that Starlink is “the right kind of business that we can go ahead and make public”.
SpaceX was looking at additional funding in December, which would put the company at a valuation of up to $ 92 billion. In August, the company raised $ 1.9 billion in a valuation of $ 46 billion, the company’s largest round of financing to date.
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The tweets come as pre-orders for the Starlink service and are now available for $ 99.
The company’s website emphasizes that orders are “fully refundable”, but notes that “making a deposit does not guarantee the service”. Orders will be served on a first-come, first-served basis. For some locations on the site, SpaceX says that coverage will not be available until “mid-2021”, while other areas will not be available until 2022.
Photo courtesy of Starlink
The complete Starlink kit costs $ 499 and includes a mountable satellite dish, Wi-Fi router and power supply. The service will be offered first in the US, Canada and the UK
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According to a Federal Communications Commission filing, Starlink has launched more than 1,000 satellites in orbit and has more than 10,000 users in the United States and abroad since its “Better Than Nothing” beta was launched nationally and internationally in October.
SpaceX said beta users can expect to see data speeds vary from 50 megabits per second to 150 megabits per second and latency – the time it takes to send data from one point to another – from 20 milliseconds to 40 milliseconds in most locations over the next few months, as the company continues to expand its coverage.
“There will also be brief periods without connectivity,” added SpaceX. “As we launch more satellites, install more ground stations and improve our network software, data speed, latency and uptime will improve dramatically.”
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Starlink is “ideally suited for areas of the globe where connectivity is often a challenge,” according to its website. The company’s satellites are 60 times closer to Earth than traditional satellites, allowing for a stronger and faster connection than traditional satellite Internet offerings.
The company has carried out 17 Starlink launches so far, with another mission scheduled for later this week, after being postponed.