OPEN APP
Home / Companies / News /  The big reason why Elon Musk is delaying Starlink IPO

When will Tesla Inc Chief Executive Officer (CEO) Elon Musk list SpaceX's space internet venture, Starlink? Well, not in the near future it seems. Taking to Twitter, Elon Musk said that this may take at least a few years before Starlink revenue is reasonably predictable. He added 'going sooner than that would be painful'.

"At least a few years before Starlink revenue is reasonably predictable. Going public sooner than that would be very painful," Musk said in a tweet. I will do my best to give long-term Tesla shareholders preference," the billionaire entrepreneur tweeted.

He was responding to a question on Twitter, where a user asked: "Any thoughts on Starlink IPO we would love to invest in the future. Any thoughts on first dibs for Tesla retail investors?"

Starlink, a planned network of tens of thousands of satellites in low-earth orbit, aims to offer fast internet speeds globally.

According to the company's website, Starlink satellites are over 60 times closer to Earth than traditional satellites, resulting in lower latency and the ability to support services typically not possible with traditional satellite internet.

Latency is the time it takes to send data from one point to the next. When satellites are far from Earth, latency is high, resulting in poor performance for activities like video calls and online gaming.

Starlink is ideally suited for areas of the globe where connectivity has typically been a challenge. Unbounded by traditional ground infrastructure, Starlink can deliver high-speed broadband internet to locations where access has been unreliable or completely unavailable.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout