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August 23, 2020 05:35 pm

SpaceX Now Valued at $46 Billion, Making It America's Top 'Unicorn'

"SpaceX, the Elon Musk-led company that recently became the first business in history to send astronauts into Earth's orbit, is parlaying its successes into big money," reports CNN Business:The company recently finished a $1.9 billion funding round, one of the largest single fundraising pushes by any privately held company, according to public filings and data aggregated by venture capital data firm Crunchbase. That brings SpaceX's overall valuation to $46 billion... SpaceX now ranks third on a list of so-called "unicorns," which are privately held startups with valuations topping $1 billion, according to data from the venture capital analysis firm CB Insights. The only two startups valued higher than SpaceX are two Chinese tech giants — rideshare company Didi Chuxing and TikTok parent company ByteDance... But even at SpaceX's eye-popping valuation, some Wall Street analysts and investors argue the company is still undervalued. Morgan Stanley analysts, for example, wrote in a report last month that SpaceX could be worth as much as $200 billion if its experimental satellite-internet project, Starlink, works as intended. Morgan Stanley said its low-end estimate for SpaceX's value is about $50 billion. And SpaceX's other ventures — including launching astronauts and cargo for NASA, building massive prototypes for a would-be Mars rocket, and launching satellites for the US military — all give investors plenty of reason to clamor for a chance to own a piece of SpaceX, according to Chad Anderson, a SpaceX investor and the CEO of investment firm Space Angels... Anderson added that SpaceX still isn't turning a profit, but that's mostly because it's still spending large sums of money investing in new arms of its business, including the Starlink internet business and its Mars rocket prototypes, dubbed Starship. And that does leave some room for debate when it comes to the question of whether SpaceX's valuation is too high. "I think there would probably be an argument both ways," he said. "I think there's definitely a lot of SpaceX haters or naysayers."

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