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SpaceX is now one of the most valuable privately held companies in the world, joining the likes of Uber, Airbnb, Palantir, WeWork, and Xiaomi:
SpaceX, the rocket maker founded by billionaire Elon Musk, has raised up to $350 million in new financing and is now valued at around $21 billion, making it one of the most valuable privately held companies in the world.
[...] With the latest funding round, SpaceX joins an elite club of seven venture-backed companies valued at $20 billion or more around the world, according to research firm CB Insights. Investors have poured money into the companies, many of which operate capital intensive businesses such as Uber and Airbnb, even as smaller start-ups have gone public and have seen their valuations waver.
[...] SpaceX's latest funding nearly doubles the valuation of the company, which was pegged at around $11 billion when it raised $1 billion from Fidelity and Google in 2015. Previous investors in SpaceX include venture capital firms Founders Fund and DFJ.
Also at SpaceNews, Ars Technica, The Verge, and CNNMoney.
(Score: 2) by vux984 on Saturday July 29 2017, @12:06AM (2 children)
"many of which operate capital intensive businesses such as Uber and Airbnb"
AirBnB and Uber are 'capital intensive' ? SpaceX is capital intensive, what with the investment in rockets, rocket production, rocket testing capabilities, and related facilities... but uber and airbnb? Those are apps.
A kid in his basement could create a competitor to either.
ok... yes... uber has its self driving car project and that requires some capital... but its not a core part of the business, and its mostly r&d at this stage; its likely still more labor intensive than capital intensive.) and airbnb?? I can't even guess how that is capital intensive; unless they've been buying up peoples couches to rent out on the side?
(Score: 2) by n1 on Saturday July 29 2017, @12:20AM
Capital intensive is how you explain that your 8 year old 'start-up' company loses money and will continue to do so for the foreseeable future. This helps to get a funding round, boost share prices or both. You can then talk about economies of scale and market disruption building the future to forecast profits beyond that.
(Score: 0) by Anonymous Coward on Saturday July 29 2017, @01:58AM
Uber is capital intensive because they are throwing that capital away at drivers to subsidize the customers and 'outcompete' the competition. The very second they stop doing that, the drivers peel off the Uber stickers and go slap a competitors sticker on their car for whoever is next in line offering subsidies.