UPDATE 2-Musk's SpaceX to raise $500 mln in funding - WSJ [Reuters (UK)]
Tesla, Inc. (TSLA)
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Source: Reuters
Musk's SpaceX to raise $500 million in funding: WSJ | Reuters 2 Min Read (Reuters) - Elon Musk’s rocket company SpaceX Corp is set to raise $500 million at a $30.5 billion valuation, the Wall Street Journal reported on Tuesday, citing people familiar with the fundraising plan. The company is raising the capital from existing shareholders and new investor Baillie Gifford & Co, who is also the third-largest shareholder in Musk-led electric carmaker Tesla Inc ( TSLA.O ). The company plans to invest the fund in the company’s satellite internet service, Starlink, WSJ said. The proposed services - essentially a constellation of satellites that will bring high-speed Internet to rural and suburban locations globally - are key to generating the cash that SpaceX needs to fund Musk’s real dream of developing a new rocket capable of flying customers to the moon and eventually trying to colonize Mars. SpaceX declined to comment. SpaceX investors are paying $186 per share for new stock in the lat
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