SpaceX is Trying to Raise $750 Million in Its First Funding Round of 2023
Per Reuters
SpaceX is trying to raise $750 million by offering secondary shares, the first funding round of 2023. The space company's last funding round was in June 2022, when the company raised $1.68 billion.
In its last June equity financing, SpaceX investors included Alphabet Inc, Google's parent company, and Fidelity Investments. Its new funding round will value the company at $137 billion and include investors like Andreessen Horowitz.
Horowitz was also a recent investor in another move by Elon Musk, as the company reportedly was a co-investor in Musk's acquisition of Twitter worth $44 billion. An initial report in November by Reuters said that SpaceX was getting ready to offer secondary shares, which could give it up to a $150 billion valuation.
The company's investment in Elon Musk's Twitter takeover was an amount of $400 million, per NYT. Bloomberg Beta venture capitalist Roy Bahat gave a statement on how Musk was different.
Bahat: “He says the things many C.E.O.s wish they could say, and then he actually does them,”
Aside from Twitter and Tesla, Elon Musk's SpaceX also has big moves planned ahead as it forwards its Starlink, the company's network of thousands of internet satellites. SpaceX is launching the 1st rocket of 2023 and 113 other satellites together, per Space, as it plans to expand its global internet satellite network.
A report by Bloomberg in December shared how SpaceX allowed its insiders to sell shares at $77, which would boost the company's valuation to $140. Now Andreessen Horowitz is likely to lead the next funding round.
As mentioned in an article by CNBC, early investors of SpaceX include Gigafund, Sequoia Capital, Founders Fund, and many others. In 2022, the company managed to surpass 60 launches for its reusable rockets through its Falcon program, a feat with no competition.
Musk has recently been questioned for his $44 billion acquisition of Twitter with Bill Nelson, NASA Administrator, asking if being the new owner of Twitter will be a distraction to his work at SpaceX. The question was directed to SpaceX President and COO Gwynne Shotwell, per NBC News.
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