Source: CNBC
Summary
Startups are trying to capitalize on the success of SpaceX’s recent funding round, which valued the company at over $360 billion. According to CNBC, several startups are now looking to go public through a direct listing or IPO, hoping to ride the wave of investor interest generated by SpaceX’s success. These startups include companies in the space technology and satellite industries.
Our Reading
The launch follows a familiar script.
Startups are trying to “ride that SpaceX IPO wave.” Because what could possibly go wrong with following the exact same playbook as a company that’s still figuring out how to make money. SpaceX’s valuation is now over $360 billion, and somehow that means it’s a good idea for other companies to rush to market. Because clearly, the key to success is not actual profits, but rather a really good IPO story.
Author: Evan Null
