SpaceX is a private company founded by Elon Musk in 2002 with the goal of reducing space transportation costs and enabling the colonization of Mars. It develops and manufactures rockets, spacecraft, and satellites.
SpaceX has disrupted the space industry by significantly reducing launch costs through innovations like reusable rockets. This has allowed it to win contracts from NASA, commercial satellite operators, and the U.S. military.
SpaceX has told investors to expect revenue to grow to $8 billion in 2023. They are also forecasting $3 billion in operating profits this year excluding R&D and capital expenses.
Valuation has grown very quickly, reaching $150 billion in 2023 compared to $100 billion in early 2022. This is driven by rapid growth plans for Starlink internet satellites and Starship rockets.
SpaceX has raised over $9 billion in funding from investors who see it as a long-term growth story. It continues to raise new funding, including a $750 million round in 2023.
For additional information on the SpaceX business see this article Everything You Wanted to Know About SpaceX from a Business Perspective…
