SpaceX

Pre-IPO

SpaceX was the first to send tourists into space, reused a rocket and reached a valuation of $100B in the pre-IPO stage

Mark Price
$61 +326% a year
Annual Price chg.
+326%
Valuation
$127B
Funds Raised
$8.60B
Last Round
$1.70B 2022
Round Date
2022, N

About the Company

SpaceX designs, manufactures and launches the most up-to-date rockets and spacecrafts. The company was founded in 2002 by Elon Musk to make humanity multiplanetary.

SpaceX has built reusable rockets and made over 150 successful launches. In May 2020, SpaceX and NASA launched two astronauts into orbit, marking the first human launch into space from U.S. soil in 10 years and a new partnership between SpaceX and the government.

The company also developed and launched 2,500 Starlink satellites designed to provide high-speed Internet connections to every corner of the planet. Starlink continues to expand its coverage globally with service now available in more than 30 countries.

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SpaceX is developing a Starship – a massive, next-generation rocket to launch cargo and people on missions to the Moon and Mars. In May 2021, Starship prototype aced a high-altitude test flight from South Texas. Reaching orbit is the next step in testing the rocket.

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Business Growth Phase

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Market Opportunities

Moon Markets Analysis report forecasts 140 Moon Missions launching over the next decade to generate $42.3B. In April 2021, NASA announced that SpaceX alone had won the contract to build the agency's next moon lander for its Artemis Moon program.

The company is working on development of space tourism. In September 2021 SpaceX successfully undertook the Inspiration4 mission sending billionaire Jared Isaacman and three other civilians on a three-day trip to Earth orbit aboard a Crew Dragon capsule. It was the first time when the Crew Dragon, which was initially developed to carry professional astronauts to and from the International Space Station, was ever used for an entirely private mission.

Financials and Valuation

SpaceX's last reported revenue of $2B was in 2019, and the company does not disclose any financial information. According to Morgan Stanley, Starlink (launched in 2019) alone is currently generating $500M+ recurring revenue.

As of June 2022 SpaceX has raised a total of $9.5B. During the funding round in February 2021 the company raised nearly $1.2B at $74B valuation. In October 2021 SpaceX held a secondary sale of existing shares at the valuation of $100.3B. It made it the second-most valuable private company in the world (behind China's ByteDance).

In May 2022 SpaceX raised a massive round of fresh funding, sending its valuation to about $127B. It has brought in up to $1.725B in new capital, at a price of $70 per share.

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SpaceX investors include NASA, Baillie Gifford, Bank of America, Fidelity, Google, Founders Fund and others.

Risks

SpaceX's Starlink satellite network program competes with Amazon who’s planning to launch its Kuiper network with more than 3,000 satellites; though it hasn’t yet revealed its production plans or launched any satellites yet.

NASA’s selection of SpaceX to design a human lunar lander for its Artemis program caused protests and a lawsuit from competitor companies. According to media reports, the conflict will be settled if the U.S. Senate directs NASA to select a second company to participate in this program.

Low liquidity: investing in private companies at the pre-IPO stage is an opportunity to make money over a few years. If you exit early, the price may be significantly different from the purchase price or the selling process may take more than 1 month.