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Tue, Feb 11, 2020

Elon Musk Plans To Spin Out Internet Business

Will Pursue IPO For 'Starlink' Satellite-Delivered Broadband System

Elon Musk is looking at separating the Starlink Internet broadband business under development and giving the public an opportunity to invest in the idea.

Bloomberg reports that SpaceX has already launched over 240 satellites for the Starlink constellation. SpaceX president Gwynne Shotwell said Thursday at a private investor event in Miami that Starlink "is the right kind of business that was can go ahead and take public."

Currently, SpaceX is only covering high latitudes with the Starlink system, but hopes to have global coverage by the end of the year. If successful analysts see SpaceX becoming a communications company that also has a rocket launch business. "“This is going to turn SpaceX into a company that is providing service to consumers, which we are excited about,” Shotwell said. She said that the Internet service will offer speeds "five to 10 times the speed you're getting" at a lower cost.

But while you might be able to buy a piece of the SpaceX Internet business, don't look for a chance to buy into the rocket launch side of the company anytime soon. Musk has said that it is not likely that would happen before it is making regular runs to Mars.

(Image from file)

FMI: Source report

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