Blue Origin Raises $10 Billion at a $130 Billion Valuation
Blue Origin Raises $10 Billion at a $130 Billion Valuation.
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Welcome to the new space race. Except this time, it's capitalism on both sides, as Jeff Bezos puts Elon Musk in his sights.
Bezos' rocket company, Blue Origin, is raising $10 billion at a whopping $130 billion valuation, reports CNBC. Bezos will personally plow $2 billion into the deal. Another $4 billion will come from Coatue, and the company is actively seeking investors to fill the rest of the round.
Blue Origin likely needs the money. One of its New Glenn rockets exploded during a test in Florida in May, and the company has an aggressive goal to return to flight by the end of this year.
The deal comes at a hot time for space tech. Musk's SpaceX went public in June, raising $86 billion in the largest public offering to date. The stock launched up to $225 per share before gravity pulled it back down to $148. Still, the company boasts a near-$2 trillion valuation, larger than South Korea's GDP.
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Rocket Lab also recently acquired Iridium Communications, a satellite communications provider, in an $8 billion deal. It's a bet that the newly combined company can chew into some of Starlink's dominance.
While serious investors are pouring big money into space tech, like any other emerging sector, it's still an open question how these companies are going to turn those investments into profit.
SpaceX's wobbly ride since the IPO might be a harbinger: euphoria as shares break the atmosphere and enter orbit, only for gravity, or rather reality, to take over.
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