If you are waiting for the SpaceX Starlink IPO (initial public offering), you are going to have to wait at least another three or four years.
That was the timeline provided by CEO Elon Musk to employees at an all-hands meeting last week. However, it could be even longer as Musk prefaced the estimate by saying he wasn’t sure exactly when it would take place and that three to four years was just a guess.
“I’m not sure exactly when that [IPO] is, but maybe it will be like — I don’t know, just guessing — three or four years from now,” Musk said (via CNBC)
Like his most recent comments on taking the company private, Musk said the IPO will “make a lot of sense” once the business is “in a smooth sailing situation” and has good cashflow predictability.
At the same all-hands meeting last week, Musk presented a slide deck that provided a number of updates on the company, including that Starlink is now operating in 32 countries around the world.
With the rapid expansion the number of subscribers has increased dramatically since the first beta program launched in late 2020. Just this year alone the number has doubled from 250,000 users in February to 500,000 today, which equates to about $75 million in monthly revenue.
That number will only increase as the months go by and more countries approve the satellite internet service. Last month the first two African countries approved Starlink – Nigeria and Mozambique,