SpaceX plans likely spinoff and IPO for Starlink broadband division

Enlarge / A SpaceX Falcon 9 rocket carrying 60 Starlink satellites launching from Cape Canaveral Air Force Station on January 29, 2020. (credit: Getty Images | SOPA Images )

SpaceX is likely to spin out its Starlink broadband business, SpaceX President and COO Gwynne Shotwell said today at an investor event.

"Right now, we are a private company, but Starlink is the right kind of business that we can go ahead and take public," Shotwell said at the event, according to a Bloomberg article. "That particular piece is an element of the business that we are likely to spin out and go public."

While CEO Elon Musk has kept SpaceX private, a Starlink public offering would "giv[e] investors a chance to buy into one of the most promising operations within the closely held company," Bloomberg wrote.

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