Published , by Donovan Erskine
Published , by Donovan Erskine
Elon Musk’s SpaceX has continued to take on new projects and expand on Starlink, its satellite internet service. A major part of growing the business is securing new funding, which we’ve seen SpaceX do throughout the year. Most recently, SpaceX was able to secure $750 million in its latest round of funding. That brings the company’s valuation to $137 billion.
We learned through a CNBC report that SpaceX brought in $750 million in its latest round of funding and crossed the $137 billion valuation mark. A large chunk of this new funding reportedly comes from Andreessen Horowitz. Horowitz has previously invested in SpaceX, and also financially aided in Elon Musk’s $44 billion Twitter acquisition last year.
Speaking of Elon Musk, his handful of months as Twitter’s CEO has proven to be detrimental to his other ventures. Tesla stock has been on a consistent downward trend since November, and there is concern that woes could spread to SpaceX. NASA Administrator Bill Nelson expressed such a concern to SpaceX President and COO Gwynne Shotwell, though she stated Musk’s work at Twitter will not have an impact on the relationship between SpaceX and NASA.
Back in July of 2022, Tesla raised $250 million in funding. Tesla brought in a total of $2 billion for the full year. Now, the company is getting started early in 2023. Neither SpaceX nor Andreessen Horowitz have officially commented on the matter. Most recently, folks noticed SpaceX acquiring ads on Twitter, following an exodus of advertisers after Elon Musk’s takeover of the platform. In November, Musk stated that he doesn’t want to be the CEO of any company, which would include SpaceX. For future news on SpaceX, Starlink, and everything Elon Musk, Shacknews has the information you need.