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SpaceX Raises $350 Million

Space transportation company SpaceX Raises $350 Million
Credit: spacex.com

Space transportation company SpaceX raised $350 million in private equity financing, bringing the company’s value to $21 billion.

Founded in 2002 by serial entrepreneur and billionaire Elon Musk, SpaceX designs, manufactures and launches advanced rockets and spacecraft. It is the only private company ever to return a spacecraft from low-earth orbit, which it first accomplished in December, 2010. SpaceX made history again in May, 2012, when its Dragon spacecraft delivered cargo to and from the International Space Station — a challenging feat previously accomplished only by governments. Since then Dragon has delivered cargo to and from the space station multiple times, providing regular cargo resupply missions for NASA. In 2017, SpaceX successfully achieved the first re-flight of an orbital class rocket – a milestone on the road to full and rapid rocket reusability.

The SpaceX team now numbers more than 500 and is located primarily in Hawthorne, CA. The company has four additional locations: SpaceX’s Texas Test Facility in McGregor near Waco; an office in Washington, DC; and launch facilities at Cape Canaveral, FL and the Marshall Islands in the Central Pacific.

SpaceX now officially joins Uber, Airbnb, WeWork, and Snap, Inc., in the elitist $20 billion Unicorn Club, which currently numbers less than ten companies around the world.