SpaceX completed another monster raise last week, people familiar told CNBC, sending the valuation of Elon Musk’s company to about $74 billion.
SpaceX completed another monster equity funding round of $850 million last week, people familiar with the financing told CNBC, sending the company’s valuation skyrocketing to about $74 billion. The company raised the new funds at $419.99 a share, those people said — or just a cent below the $420 price that Elon Musk made infamous in 2018 when he declared he had «funding secured» to take Tesla private. The latest raise also represents a jump of about 60% in the company’s valuation from its previous round in August, when SpaceX raised near $2 billion at a $46 billion valuation. SpaceX did not immediately respond to CNBC’s request for comment. In addition to SpaceX further building a war chest for its ambitious plans, company insiders and existing investors were able to sell an additional $750 million in a secondary transaction, one of the people said. Notably, SpaceX raised only a portion of the funding available in the marketplace, with one person telling CNBC that the company received «insane demand» of about $6 billion in offers over the course of just three days.
