Many investors are excitedly awaiting the upcoming Starlink IPO. The company is known for its satellite communication system, founded by Elon Musk. More than 4,000 satellites currently orbit the earth and are capable of providing people with an ultra-fast internet bandwidth of 23 Tbps.
Starlink will connect directly via gadgets to customers who sign a contract with the company. By the beginning of 2024, half of the satellites that will orbit the Earth should already have been launched into space. By 2027, all satellites should be in orbit around the Earth.
Starlink has been working on this project for more than 5 years - and quite successfully. So far, the total investment is over $10 billion. According to Elon Musk, the financial outlay for the entire project should amount to $20 to $30 billion.
Financial situation of Starlink before its IPO.
In October 2020, the testing phase of the satellite system began, this lasted about a year. Those who want to can already get the necessary equipment for $499. For the satellite connection, customers pay a contribution of $99 per month.
According to Starlink in December 2020, $885.50 million was to be raised for the project in the following year. The goal was to bring ultra-fast high-speed internet to people in the most remote places in the United States. By January, Starlink's network already had about 10,000 terminals.
It is primarily the shareholders who are financing Starlink's project. And their number keeps growing. However, we only know how much has been raised - because the investments are private. But we do know that the project raised a sum of around $1 billion in 2019 and as much as $2 billion the following year.
As of February 2021, Starlink was valued at $72 billion.