It will take a bit more time for investors to get their hands on the stock of the company. According to CNBC, Musk recently told employees that he isn't likely to make Starlink public for another 3 to 4 years.
During an all-hands meeting of the company's employees last week, Musk reportedly said that the IPO won't be for another three to four years. Starlink needs to be in a smooth sailing situation, according to Musk.
According to an e-mail obtained by CNBC, Musk originally intended to take Starlink public this year. The billionaire doesn't want to take his internet megaconstellation public. The billionaire said being public is an invitation to pain. The stock price is making people distracted.
Starlink isn't fully operational, but it's getting there There are about 2,300 functioning Starlink satellites. A total of 42,000 satellites will be launched by Musk to allow for broadband internet access across the world.
Some parts of the United States, Canada, New Zealand, Australia, the United Kingdom, as well as some European countries, are currently being beamed down by the satellites. The company hopes to have its service to the rest of the world ready by the end of the year. The company would like to work with commercial partners. Starlink and Hawaiian Airlines agreed to provide free in-flight wi-fi. The design of the next generation of Starlink satellites was revealed last month by Musk.
The company relies on funding and profits to power its production of Starlink satellites. The company has a partnership with NASA to bring astronauts to and from the International Space Station. According to the Wall Street Journal, the company raised at least a billion dollars.
The details of next-Generation Starlink Satellites were revealed by Musk.
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