Blog

SpaceX: how to become a hectocorn 🚀🌌

Country: the USA
Valuation: $100 billion
Business model: space transportation service

Elon Musk — a business magnate, founder, CEO, and Chief Engineer at SpaceX. He has made his project the second most valuable private company in the world. Just a year ago, SpaceX's estimate was $46 billion. During the second round, SpaceX has agreed with new and existing investors to sell $750 million in shares at $560 per share.

What’s a hectocorn?

Hectocorn — a company with a valuation of 100 unicorns. There is another name for the company, this corporation is "Super Unicorn". It is not uncommon that one of our familiar names such as Apple, Google, Microsoft, Facebook, Oracle and Cisco are examples of this level of startups. Recently, SpaceX has risen to the second place in the list of the most expensive private companies in the world.

How did the company reach its current position?

In August 2020, SpaceX raised $1.9 billion, reaching an estimate of $46 billion. In February 20201, after another round of investments, the company's value rose to $74 billion. The total investment raised by SpaceX is $6.6 billion, according to Crunchbase.

East VS West: entertainment or space?

The closest competitor to SpaceX is Chinese Bytedance, which owns TikTok. Its estimate is $140 billion by October 2021. Both companies are actively fighting for the title of the largest hectocorn ever. The competition and their campaigns are very aggressive: in the wake of SpaceX's big move, news from Tiktok owner is expected. All we need is just to wait!

Why do you think SpaceX managed to reach such success? Share in the chat!


t.me/ideafactory1/518
#StartupNews