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Musk’s SpaceX Plans a Spinoff, IPO for Starlink Business

  • Company to provide high-speed internet globally via satellite
  • Service will cost less for much faster speed, Shotwell says
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SpaceX Launched Falcon 9 Rocket With More Satellites on Jan. 29.

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Elon Musk’s SpaceX plans to spin out and pursue a public offering of its budding space-internet business Starlink, giving investors a chance to buy into one of the most promising operations within the closely held company.

Space Exploration Technologies Corp. has already launched more than 240 satellites to build out Starlink, which will start delivering internet services to customers from space this summer, President Gwynne Shotwell said Thursday at a private investor event hosted by JPMorgan Chase & Co. in Miami.