Billionaire Elon Musk says the Starlink, which is SpaceX’s space internet venture will go public once its cash flow is more reasonably predictable. Musk made this announcement using Twitter on June 24.
“Going public sooner than that would be very painful. Will do my best to give long-term Tesla shareholders preference,” tweeted Musk. This tweet was a response to a twitter user who popped up the question.
“Any thoughts on Starlink IPO we would love to invest in the future. Any thoughts on first dibs for Tesla retail investors?” read the tweet.
Starlink is a planned network of tens of thousands of satellites in low-orbit which goal is to offer fast internet speed across the world.
Last year, Gwynne Shotwell, the president of aerospace manufacturer, space transportation and communications company SpaceX came up with the idea of Starling having an initial public offering.