SpaceX Valuation Jumps by 60% to $74 Billion Following $850 Million Funding Round

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SpaceX recently completed a fresh funding round sending its valuation to a new high. According to the research data analyzed and published by Sijoitusrahastot, the private company raised $850 million at $419.99 per share. Thanks to the new capital injection, the company’s total valuation surged by 60% to $74 billion.

Since its launch in 2002, SpaceX has raised a cumulative $6 billion, the latest injection included. In August 2020, it raised $1.9 billion during a venture round at a valuation of $46 billion.

Recent Investments Raised by SpaceX

SpaceX Valuation Jumps by 60% to $74 Billion Following $850 Million Funding Round brandspurng2
Source: Crunchbase

SpaceX Valuation Jumps by 60% to $74 Billion Following $850 Million Funding Round brandspurng

According to the report, existing investors and company insiders sold an additional $750 million on a secondary transaction.

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The total figure raised during the round was just a fraction of available funding in the marketplace. In a span of three days, the company reportedly received offers worth approximately $6 billion.

SpaceX is currently involved in two simultaneous projects, Starship and Starlink, both of which are capital intensive. Starlink is aimed at building a constellation, a vast interconnected internet network containing thousands of satellites. Once it is completed, it should deliver high-speed internet to users all over the globe.

The project still requires about $10 billion to complete, but once it is done, it has the potential to generate $30 billion in annual revenue. That would equate to about 10 times the current annual revenue generated by SpaceX’s rocket business.

Elon Musk’s Net Worth Grew by Over $150 Billion in 2020

Starlink already has over 10,000 users in the US and elsewhere after only three months of operation in a public beta. At least 1,000 satellites are in place and customers in the US, Canada and UK can pre-order at $99. Once its cash flow stabilizes, Elon Musk revealed that the company intends to take Starlink public.

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SpaceX is also working on the construction of the Starship rocket, its second project. Currently, it is testing prototypes in Texas. Under this project, the company aims to create a reusable rocket system comparable to commercial airplanes.

Elon Musk is the CEO and lead designer behind SpaceX. According to the Federal Communications Commission, he has a 54% stake in the company and controls over 78% of its shares’ voting rights.  Best known as the CEO and founder of Tesla, he is behind multiple massively successful companies. Besides SpaceX and Tesla, some of his most renowned investments include Google’s Deep Mind, PayPal Holdings and The Boring Company.

Read Also:  2020 Global and Nigerian Political-Economic Outlook

According to the Bloomberg Billionaires Index, Musk had an estimated net worth totalling $209 billion as of January 2021. At the time, he was ranked as the richest person in the world, ahead of Amazon CEO Jeff Bezos. His wealth upsurge in 2020 went on record as the fastest rise in history to the top of the wealthiest persons’ list.

He started the year with a net worth of $27 billion, placing him in the top 50 richest persons. As a result of Tesla’s stratospheric rise in the share price of about 800% in the year, he added more than $150 billion to his net worth in the period.

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However, on February 16, 2021, Musk gave back the title to Bezos as his net worth sank by $3.9 billion. The decline was a result of a more than 2.4% slide in Tesla shares, which closed at $796.22 on the day.

Tesla Share Price Up 337% Over Past Year

Jeff Bezos had prior to January 2021 held the position of the world’s wealthiest person since 2017. His personal wealth is primarily tied to Amazon stock, which has seen him hit repeated wealth milestones. Back in 2018, his personal wealth surged above $150 billion. In August 2020, Bezos became the first man with a net worth of more than $200 billion.

On February 19, 2020, Jeff Bezos is at the top of the list with a net worth of $193.4 billion according to Forbes’ Real-Time Billionaires. Elon Musk sits in the second spot with $171.6 billion. Over the past 24 hours, Bezos’ has gained $1.0 billion (0.54%) while Musk has shed $2.1 billion (1.21%).

According to data from Marketwatch, Amazon stock is trading at $2,972 and has a total market value of $1.51 trillion. Over the past year, it has gained 56.62%.

On the other hand, Tesla stock is trading at $610 and it has a market capitalization of $627 billion. Its share price has increased by a remarkable 341.69% over the past year.

For the first time since launch, Tesla reported positive net income in 2020, amounting to $721 million. Comparatively, Amazon’s net income for 2020 was $21.33 billion.

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SpaceX Valuation Jumps by 60% to $74 Billion Following $850 Million Funding Round - Brand SpurSpaceX Valuation Jumps by 60% to $74 Billion Following $850 Million Funding Round - Brand Spur
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SpaceX Valuation Jumps by 60% to $74 Billion Following $850 Million Funding Round - Brand SpurSpaceX Valuation Jumps by 60% to $74 Billion Following $850 Million Funding Round - Brand Spur

Latest News

Next Meats, Purveyor of the World’s First Plant-based Yakiniku Meats, Is Now in Singapore

The Tokyo-based startup makes its debut in the alt-protein hotspot of Singapore

 

  • Next Meats has collaborated with Aburi-EN to deliver two new meal sets
  • Made with soybean proteins, the Kalbi contains no chemical additives or animal ingredients


SINGAPORE - Media OutReach - 14 April 2021 - Next Meats, a purveyor of the world's first plant-based yakiniku meats, is making its debut in the alternative protein hotspot, Singapore! The Japanese alternative meat company has collaborated this time with popular Japanese restaurant Aburi-EN, which will offer two types of set meals using the NEXT Kalbi (boneless short rib) for the very first time. Made largely from soy proteins, the NEXT Kalbi contains double the amount of protein and half the fats than that of regular meat and even more, it does not contain any chemical additives or cholesterol due to its lack of animal ingredients. Now, Singaporeans can enjoy yakiniku without the guilt!


SpaceX Valuation Jumps by 60% to $74 Billion Following $850 Million Funding Round - Brand Spur

From left to right: Premium Kalbi Don Set and Stamina Teishouku Set

The two new menus available at Aburi-EN are the Kalbi Don Set (S$13.80) and the Stamina Teishoku (S$15.80) — which are available for a limited time only. Next Meats has specifically chosen to work with Aburi-EN as they are a Japanese grilled-meat specialist. The two menus are the culmination of many months of research and development, and they will also be Aburi-EN's first-ever plant-based dishes.


SpaceX Valuation Jumps by 60% to $74 Billion Following $850 Million Funding Round - Brand Spur

For the Kalbi Don Set, Next Meat's Kalbi is grilled and served atop a bowl of fragrant Japanese steamed rice. Equally indulgent, the Stamina Teishoku features the Kalbi stir-fried with cabbage along with egg imported from Okinawa. The meat is then served with fragrant Japanese steamed rice, salad, pickles and miso soup. For both dishes, the meats are glazed with a special homemade sauce that packs an irresistible umami punch.

Both the Kalbi Don Set and Stamina Teishoku will be available at all Aburi-EN stores from April to July 2021.

An advocate of sustainable food production and better food security

The NEXT Kalbi is one of Next Meats' innovative offerings, which includes other plant-based delicacies such as the NEXT burger and NEXT gyudon (beef bowl). The company champions the importance of saving the planet and humanity through reducing the emission of greenhouse gases (which is produced from meat consumption and animal agriculture) and utilizing biotechnology to combat protein deficiency.

Through extensive research and development, Next Meats has culminated the knowhow on using molecular binding to mould vegetable proteins from powder. Buoyed by state-of-the-art, proprietary technologies, the company has successfully created vegan substitutes that replicate the texture of real meat.

About Next Meats

Hailing from Tokyo, Next Meats is a food-tech venture company that specialises in the research and development of Japanese-style alternative meat products. Its journey of product development began in 2017, and the company was officially established in 2020. Its portfolio of products includes plant-based burger patties, gyudon and yakiniku meats.

Social Media for Next Meats

Facebook: /nextmeats.singapore

Instagram: @nextmeats_singapore

Hashtags: #nextmeats #nextmeats_sg #japaneseplantbased


About Aburi-EN

Aburi-EN is Singapore's leading Japanese Grill restaurant chain, best known for delicious high quality grilled donburi bowls. Signature dishes include the Premium Buta Don with grilled chestnut-fed pork, Wagyu Karubi Don, and the Wagyu Stamina Don, made using A4/A5 Miyazaki Wagyu, which has won Japan's "National Wagyu Award" for 3 consecutive years, among many others. The homemade sauces give the meats and dishes an extra umami-ness. Aburi-EN is also known for affordable highballs and Japanese sours, which pair perfectly with the Aburi dishes.

Social Media for Aburi-EN

Facebook: /aburiensg

Instagram: @aburien.sg

Hashtags: #aburiensg #aburiendonburi #aburienjapanesegrill

Outlets

- Isetan Scotts:

350 Orchard Rd, #01-K1 Shaw House, Singapore 238868

- Causeway Point

1 Woodlands Square, #02-09B Causeway Point, Singapore 738099

- Jem

50 Jurong Gateway Rd, #01-04 Jem, Singapore 608549

- Vivo City

1 Harbourfront Walk, #01-159/160 VivoCity, Singapore 098585

- Novena Square

238 Thomson Rd, #01-89/90, Singapore 307683

- Guoco Tower

1 Wallich St, #B2 - 09, Singapore 078884

- Orchard Central

181 Orchard Central, Central, #01-16 Orchard, 238896

- Suntec City

3 Temasek Blvd, #B1-121 Suntec City Mall, Singapore 038983

- Nex

23 Serangoon Central, #01-63/64/65 Nex, Singapore 556083

Operating Hours

11am – 10pm, Daily

SpaceX Valuation Jumps by 60% to $74 Billion Following $850 Million Funding Round - Brand Spur
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