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SpaceX Intends to Spin Off, Take Public Space Internet Business; Gwynne Shotwell Quoted

SpaceX Intends to Spin Off, Take Public Space Internet Business; Gwynne Shotwell Quoted - top government contractors - best government contracting event
Gwynne Shotwell
Gwynne Shotwell

SpaceX plans to spin off and launch an initial public offering for its space internet subsidiary Starlink, Bloomberg reported Friday.

“Right now, we are a private company, but Starlink is the right kind of business that we can go ahead and take public,“ Gwynne Shotwell, president and chief operating officer of SpaceX and a three-time Wash100 award winner, said Thursday at a JPMorgan Chase & Co.-hosted event in Miami. “That particular piece is an element of the business that we are likely to spin out and go public.“

She said SpaceX has brought to space more than 240 satellites for Starlink, which will begin delivering space internet services to clients by summer.

Shotwell noted SpaceX expects to have worldwide high-speed internet coverage by the end of 2020 through Starlink's satellite network. “This is going to turn SpaceX into a company that is providing service to consumers, which we are excited about,“ she added.

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