SpaceX, the private space company owned by Elon Musk, the founder and former owner of PayPal and actual CEO of Tesla, which fundamentally initiated the concept of developing reusable rockets, is destined to rank as the third biggest private tech company in the US, challenging the first two companies in this top, Uber and Airbnb.
According to Equidate, SpaceX pursued an additional of $500 million in the capital. When this financial breakthrough was accomplished, the worth of SpaceX skyrocketed by 25% in the last nine months. This is indeed a major accomplishment but SpaceX also achieved to increase its rating by 100% since 2015.
SpaceX is one step closer to the development of its satellite communications network in space
Elon Musk launched SpaceX with its own money in 2002 and, with this new funding wave, is probably capable of guiding the firm on a road he has been pondering for a while.
While SpaceX representatives were unwilling to disclose their plans for the funds collected, some rumors suggested the money will be used to develop a satellite developing plant which would make possible Musk’s plans for implementing a communications network in space.
Part of the SpaceX success is due to the association with NASA
Also, Musk is probably prepared to spend some of the funds to support the new facility that SpaceX is currently constructing for SpaceX’s Falcon Heavy rocket, the largest one in the company’s portfolio and, so far, the biggest in the world.
In addition, one reason for SpaceX’s tremendous expansion is its association with NASA to assist the US space agency in the delivery of equipment and resources to the ISS and in satellite deployments. This association has contributed to the development of both the reusable SpaceX Falcon 9 rocket and the Dragon spaceship.
In short, SpaceX private space company, owned by the renowned Elon Musk, has recorded a tremendous growth in the last period, placing itself on the right track to becoming the 3rd biggest private tech company in the US.