Tesla Chief Executive Officer Elon Musk plans to list SpaceX’s space internet venture, Starlink, several years in the future when revenue growth is smooth and predictable.
“Public market does *not* like erratic cash flow haha,” the billionaire entrepreneur tweeted on Monday.
We will probably IPO Starlink, but only several years in the future when revenue growth is smooth & predictable. Public market does *not* like erratic cash flow haha. I’m a huge fan of small retail investors. Will make sure they get top priority. You can hold me to it.
— Elon Musk (@elonmusk) September 28, 2020
SpaceX President Gwynne Shotwell in February floated the idea of spinning Starlink off for an IPO in the coming years.
SpaceX is racing to build out its Starlink satellite constellation to offer broadband internet commercially by the end of 2020.
Musk, in his tweet, also said he is a “huge fan” of small retail investors and will ensure they get top priority.
© Thomson Reuters 2020
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