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Musk is planning an IPO for SpaceX’s Starlink business

PHOTO: SpaceX owner and Tesla CEO Elon Musk arrives on the red carpet for the Das Goldene Lenkrad (Golden Steering Wheel) car awards given by a German newspaper in Berlin, Germany, November 12, 2019. REUTERS / Hannibal Hanschke / Photo file

(Reuters) – Tesla Inc. CEO Elon Musk plans to list SpaceX’s space-based Internet venture, Starlink, several years into the future, when revenue growth is smooth and predictable.

“The public market doesn̵

7;t like the fickle cash flow haha,” the billionaire entrepreneur wrote here on Monday.

Musk said last year that Starlink was an important new revenue stream for its California-based Space Exploration Technologies or SpaceX.

SpaceX President Gwyn Shotwell in February floated the idea of ​​separating Starlink for an IPO in the coming years.

SpaceX is vying to build its satellite constellation Starlink to offer commercial broadband by the end of 2020.

Musk also tweeted that he is a “huge fan” of small retail investors and will ensure that they receive the highest priority.

Report by Akanksha Rana in Bengaluru: Edited by Sriraj Kalluvila

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