Elon Musk eyes IPO for his new Starlink satellite internet initiative

Space X has announced that the company will be accepting pre-orders from potential customers for their latest internet service starting from $99.

Website: https://www.starlink.com/

A potential customer can log into the Starlink website and enter the service address. The website then promotes you to a $99 preorder payout. If the service is not available in your area you will be given a notification “ Space X is targeting coverage area in mid to late 2021” and in some cases, it shows “ targeting coverage in 2022”.

The service will be provided first to countries like the US, Canada, and the UK.

Starlink Website

Although the company guarantee refund for the deposit made, they also suggest that making a pre-order does not guarantee the service. The Space X also emphasizes that the “orders may take 6 months or more to fulfill”

Space X chief executive in a previous statement said that the company is looking to go public in near future. 

“SpaceX needs to pass through a deep chasm of negative cash flow over the next year or so to make Starlink financially viable. Every new satellite constellation in history has gone bankrupt. We hope to be the first that does not.” Elon Musk said

The company is optimistic about delivering internet service all around the globe 24*7. Musk in 2019 also said that the company is potentially eyeing a 30 billion yearly revenue from this new initiative