Space X looking to raise money at $10 billion valuation

SpaceX, Space Exploration Technologies Corporation, founded by former Paypal entrepreneur and the current CEO Elon MUSK in 2002, is a space transport services company located in Hawthorne, CA. Now this company continues to grow and according to TechCrunch, they are looking to raise $200 million in new funding at a valuation approaching $10 billion.

It might sound like insanely a huge amount of money to raise. However considering Elon’s successful business results in recent years regarding Tesla, raising $10 billion can be very possible and it looks enough to intrigue potential investors.

The most distinguished feature of SpaceX compared to other companies and organizations such as NASA is that the rocket can be reused, meaning it will lead to the drastic reduction of expenses.

They reportedly worked with an Asian satellite company, Turkmenistan, and Argentina in 2014 to negotiate launches and the launch schedules in 2015 have been already made with government agencies and companies in Japan, Taiwan and Israel.

Although SpaceX recently denied about raising the fund and external valuation of the magnitude, we will get to know soon who is saying the truth.


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