By Matein Khalid
My conviction that Elon Musk’s SpaceX is the tech unicorn of our lifetimes was vindicated by the spectacular institutional response to its $1 billion Series N offering in August. The round was oversubscribed by the smart money/tech cognoscenti of Silicon Valley by a staggering 10 times, forcing the company to almost double the size of the offering.
I am convinced that the company’s Starlink project (satellite based broadband internet access to a global subscriber base) means that SpaceX could morph into an internet platform company on the scale of a Google or Amazon. In other words, a $50 billion annual EBITDA and a trillion dollar valuation at least on NASDAQ. Since the valuation is now $46 billion in the private market, this means a potential 20 bagger.
I admit I am in love with this puppy, now that we finally got allocated but I seriously recommend every friend of mine to research the investment case of SpaceX in depth and would love to hear your thoughts/insights. As Google, Amazon and Tesla have proven so dramatically, fairy tale investments can and do happen in Silicon Valley.
Also published on Medium.
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