IPO spinoff talk is swirling around Starlink, the SpaceX-owned satellite internet constellation.
Citing people with knowledge of the matter, Bloombeg reports that Starlink could be spun off via IPO by late 2024. Last week billionaire investor Ron Baron — the founder, chief executive officer and portfolio manager at Baron Capital — told CNBC that he expects a Starlink IPO could happen around 2027, with SpaceX worth around $250 billion to $300 billion by that time.
SpaceX has not yet responded to a request for comment on possible Starlink IPO plans.
Related: Elon Musk to provide Starlink internet connectivity to aid organizations in Gaza
Earlier this month SpaceX CEO Elon Musk tweeted that Starlink has achieved breakeven cash flow, noting that it also accounts for a majority of all active satellites. Musk added that Starlink will have launched a majority of all satellites cumulatively from Earth by next year.
Starlink reported $1.4 billion in revenue for 2022, up from $222 million a year earlier, according to the Wall Street Journal in September, citing recent documents that it had reviewed. At that time, SpaceX had a valuation of roughly $150 billion, the report said.
Last month Musk said that Starlink would provide internet connectivity to internationally recognized aid organizations in Gaza.