SpaceX is a private company, but President Gwynne Shotwell said Thursday its satellite business was the right segment to take public.
SpaceX said Thursday it was considering spinning off its Starlink satellite internet business and taking the segment public.
SpaceX is a private company, and Chief Executive Elon Musk has long said he would not take the firm public until he was ready to achieve his goal of launching humans to Mars. But the company’s satellite business is “the right kind of business that we can go ahead and take public,” company President Gwynne Shotwell told an audience at a private investor event put on in Miami by JPMorgan Chase & Co.
SpaceX has built a steady launch business with its workhorse Falcon 9 rocket and its Falcon Heavy rocket. In 2015, Musk announced that the company would also start building small satellites capable of beaming broadband internet to customers on Earth. SpaceX has started to launch those satellites, though the company does not yet sell internet service.
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