SpaceX plans likely spinoff and IPO for Starlink broadband division
SpaceX is likely to spin out its Starlink broadband business, SpaceX President and COO Gwynne Shotwell said today at an investor event.
“Right now, we are a private company, but Starlink is the right kind of business that we can go ahead and take public,” Shotwell said at the event, according to a Bloomberg article. “That particular piece is an element of the business that we are likely to spin out and go public.”
While CEO Elon Musk has kept SpaceX private, a Starlink public offering would “giv[e] investors a chance to buy into one of the most promising operations within the closely held company,” Bloomberg wrote.
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