Is Space X is behind Something big?
A privately owned company by Billionaire Elon Musk, Space X has increased its valuation by 60%. In August 2020 Musk’s Space company stands at a Valuation of $46 Billion and raised $2 Billion at this valuation. The company managed to increase its valuation by 60% this year and now standing at $74 Billion as per CNBC. Recently it raised $1.16 Billion of funds. Is Space X is behind Something big?
The Founder & CEO of Space X Elon Musk has the vision to make humans multi-planetary. Space X has continuously done many remarkable things during his journey. From creating reusable rockets to providing the fastest internet service through his Starlink Network. Its success leads him to win many projects from NASA despite being a private space company. Starlink’s business has the potential to increase revenue by 10X from its existing revenue.
StarLink Business of SpaceX
Start link has more than 10000 Customers during its beta testing face as per Forbes. The company has launched more than 1000 satellites and is willing to increase its number up to 42k when the project will complete. Expected revenue from the Starlink project will be $30 Billion which is more than the revenue earned by the Space X rocket business.
In the beta testing phase customers were charged $99 per month. The setup cost is 500$ which includes a Dish and Antenna for connectivity with StarLink Satellites. StarLink will be a great source of connectivity around the world as 40% of Earth’s population has no access to an internet connection as per Statista.
Fcc awarded the company with a $900 Million Subsidy under the Rural Digital opportunities fund which aims to bring high-speed internet in the US especially in rural areas of the country.
Benefits of Satellite based Internet
The internet-based business will also boom due to such vast coverage of the internet around the world. Satellite-based internet is the future because it will not need to build heavy infrastructures and transmission lines. The world will move towards E-commerce and extreme form of outsourcing/Virtual organization. It will promote better connectivity will bring employments from around the globe. It also enhances the speed of the internet to new all-time highs. Company reporting speed varying between 50Mbps to 150 Mbps will further increase with the launch of more satellites to the network.
Starship Rocket by Space X
Further, the availability of funds required is because Space X is constantly updating its rocket fleet and building its biggest rocket the StarShip at Starbase Boca Chica. This rocket already fails two times during landing after short flights of about 500 feet altitude. The goal of Space X behind developing Starship is to transport cargo to distant places such as Moon and Mars and to carry at least 100 people on missions to Mars and Moon. This is the vision of its CEO Musk to make life multi-planetary and a starship is one of the sources to fulfill that dream.
