Chuan SpaceX is financing $500 million at a valuation of $30.5 billion.

 Chuan SpaceX is financing $500 million at a valuation of $30.5 billion.

Netease Technologies News Dec. 19, according to CNBC reports, according to people familiar with the situation, SpaceX is in the process of a $500 million round of financing, and the new financing makes the valuation of SpaceX reach $30.5 billion. The money comes from existing shareholders and a new investor, Baillie Gifford, a Scottish investment company.

It is said that SpaceX plans to use the new funds to build a large satellite Internet project called Starlink. Both SpaceX and Baillie Gifford declined to comment. Starlink is the brand that SpaceX applied for registration last year. First, it built a space network of 4,425 broadband satellites, and then it will launch 7,518 satellites.

SpaceX will launch the Starlink satellite in 2019. When the system reaches 800 satellites, it can be put into use. Starlink will provide broadband speeds comparable to those of optical networks. These satellites will provide direct consumer-oriented wireless connections, changing the traditional high-cost, low-reliability services.

If Starlink succeeds, Morgan Stanley estimates that SpaceXs valuation will soar to more than $50 billion.

SpaceX ranked first in the 2018 CNBC Inctor 50 list released in May. At that time, SpaceX said its valuation was about $28 billion. (small)

Source: Responsible Editor of Netease Science and Technology Report: Wang Fengzhi_NT2541