- SpaceX is looking to sell shares at a $175 billion valuation, Bloomberg reported.
- The valuation makes Elon Musk’s company worth more than giants such as Disney or Comcast.
- Musk last month denied reports SpaceX is considering an IPO for the Starlink division next year.
SpaceX is looking to sell share that implies a value for the company of about $175 billion – $25 billion more than it was worth in the summer, Bloomberg reported Thursday.
Elon Musk‘s company is exploring a share sale priced at $95 to raise between $500 million to $750 million, per the outlet, citing unnamed sources.
SpaceX attracted a $150 billion valuation in June when it last raised funds, according to reports at the time. It also raised $750 million in a funding round led by Andreessen Horowitz in January at a $137 billion valuation, CNBC reported.
The potential valuation would position SpaceX among the world’s most valuable companies, surpassing the likes of Comcast and Disney – both worth about $167 billion.
Founded in 2002 by Musk, SpaceX has set its sights on Mars colonization and is a frontrunner in the space race. In the first nine months of the year it made 69 orbital launches compared with 30 for China’s space agency, its closest rival, according to space analytics firm BryceTech.
The company’s second test flight of its Starship mega rocket failed again in November, but made flew further than its first explosive launch.
Starship marked the heaviest space launch vehicle to date, and aims to be fully reusable and used to ferry passengers to Mars.
After two years of losses, the company posted a $55 million profit for the first quarter of 2023 on revenues of $1.5 billion, The Wall Street Journal reported.
Musk denied reports last month that SpaceX was considering a stock market listing for Starlink, its satellite internet division, as soon as next year.
SpaceX did not immediately respond to a request for comment from Business Insider, made outside normal working hours.