Elon Musk's SpaceX could soon be $5 billion more valuable
A new round of investment could add billions to the company's valuation, and help Musk in his quest to reach Mars.
- Finalist for the Nesta Tipping Point prize and a degree in broadcast journalism from the University of Missouri-Columbia.
SpaceX's valuation could soon leave Earth.
Elon Musk's rocket company, SpaceX, could be closing in on Airbnb as the second most valuable private company in the US.
A newly amended public filing in Delaware shows the rocket company is set to launch a new $507 million dollar round of financing, selling 3 million shares at $169 a share.
CNET obtained the document from Lagniappe Labs, creator of the Prime Unicorn Index (PUI), which estimates SpaceX would be valued at $23.7 billion.
That valuation would be up from PUI's current estimate of $18 billion.
SpaceX confirmed the funding round but declined to comment further.
The quick jump in SpaceX's value puts it near Airbnb's estimated valuation, which PUI places at around $29 billion. Uber tops the list of most valuable American private companies at $44 billion. Coming up not far behind SpaceX are other Silicon Valley darlings, including Dropbox, Lyft and Pinterest.
SpaceX's reputation has grown in recent months with the successful launch of its huge Falcon Heavy rocket, plans to launch a massive constellation of broadband-beaming satellites and, of course, an audacious vision to colonize Mars.
Meanwhile, SpaceX continues to rake in revenue by working with telecommunications companies, the US military and NASA to launch satellites and spacecraft, among other missions. It also services the International Space Station.
A big part of the company's plan for profits involves reducing costs by recycling its rockets.
SpaceX's business model will likely make a big leap forward when the final version of the Falcon 9 rocket is launched for the first time later this month. Also known as the "Block 5" Falcon 9, the rocket could be capable of making as many as 100 flights to space. Previous versions of the Falcon 9 have flown no more than two missions.
