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Musk plans IPO for SpaceX's Starlink business

Reuters
·1-min read
FILE PHOTO: Automobile awards The golden steering wheel in Berlin

(Reuters) - Tesla Inc <TSLA.O> Chief Executive Officer Elon Musk plans to list SpaceX's space internet venture, Starlink, several years in the future when revenue growth is smooth and predictable.

"Public market does *not* like erratic cash flow haha," the billionaire entrepreneur tweeted https://twitter.com/elonmusk/status/1310672832783884290 on Monday.

Musk said last year that Starlink was an important new revenue stream for his California-based Space Exploration Technologies, or SpaceX.

SpaceX President Gwynne Shotwell in February floated the idea of spinning Starlink off for an IPO in the coming years.

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SpaceX is racing to build out its Starlink satellite constellation to offer broadband internet commercially by the end of 2020.

Musk, in his tweet, also said he is a "huge fan" of small retail investors and will ensure they get top priority.

(Reporting by Akanksha Rana in Bengaluru: Editing by Sriraj Kalluvila)