SpaceX's valuation climbs to $25 billion with new funding round

SpaceX's valuation climbs to $25 billion with new funding round

SpaceX could soon be one of the most valuable VC-based companies thanks to a new round of funding that would also give the net worth of founder Elon Musk a nice bump. That would make the company the third most valuable venture-backed startup in the USA, says Bloomberg.

SpaceX authorized $507 million in Series I shares on April. 5. SpaceX's valuation has more than doubled from $10 billion since 2015. The company raised $450 million in November 2017 on a $20.8 billion valuation.

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The company, founded in 2002, has already had six missions in 2018, notably its February demonstration test flight of the Falcon Heavy, a powerful new rocket with three reusable side boosters created to carry heavier payloads. On Monday, SpaceX is slated to launch a Falcon 9 rocket from Cape Canaveral Air Force Station in Florida with a National Aeronautics and Space Administration satellite as the payload. The program to send Falcon 9 back to the Earth was created to ensure that the rocket does not remain floating in orbit and contribute to the already present vast amount of space junk.

Little was known about Zuma, but it was clear after launch that the satellite did not reach orbit and is believed to have plunged back down to Earth, landing in the Indian Ocean.

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