SpaceX announced the start of pre-orders for the satellite Internet service Starlink at a price of $ 99

Private company SpaceX Elon Musk has moved from beta testing its Starlink satellite internet service to launching a wider launch. On the Starlink website, residents of the US, Canada and the UK now have the option to pre-order satellite Internet services. Musk plans to make SpaceX subsidiary Starlink public.

On Tuesday, SpaceX subsidiary Starlink began accepting pre-orders for satellite broadband Internet access services.

Users in the US, Canada and the UK have been eligible to pre-register. The service costs $ 99 per month, and the user also needs to purchase a Starlink bundle (Wi-Fi router and satellite dish) for $ 499 plus shipping and tax.

Starlink’s website emphasizes that pre-orders are “fully refundable” but notes that “placing a deposit does not guarantee service.” The company also says that “orders may take 6 months or more to complete,” depending on the user’s location.

SpaceX said that initially, “there will be short periods of disconnection” from Starlink’s internet. “As we launch more satellites, install more ground stations, and improve our network software, data rates, latency and uptime are dramatically improved.”

Starlink started beta testing last October and has over 10,000 users, according to the company.

To date, just over 1,000 Starlink satellites have been launched into orbit out of a planned 11,943 that have been approved by the FCC. SpaceX’s ultimate goal is to put 4,425 satellites into orbit by 2024.

As a result, the company wants to deliver high-speed internet in places “where internet connectivity is usually a problem.” Starlink satellites are more than 60 times closer to Earth than traditional satellites, providing more reliable and faster connections than traditional offerings. satellite internet.

According to Starlink, the company ultimately intends to provide data rates ranging from 50 megabits per second to 150 Mbps, with latency (the time it takes to send data from one point to another) of 20 to 40 milliseconds in most regions.

Starlink IPO Happens If Company Can Become “Financially Viable”

Unlike Tesla (TSLA), which went public in 2010, Starlink – as part of SpaceX – is privately held. Before going public, a company must overcome many technological challenges and at least come close to profitability and stable cash flow.

On Tuesday, when asked when Starlink’s IPO will take place, Elon Musk said on Twitter: “SpaceX needs to go through a deep chasm of negative cash flow over the next year or so to make Starlink financially viable. Every new satellite constellation in history has gone bankrupt. We hope to be the first to fail. ”

“Once we can forecast cash flow well enough, Starlink will have an IPO,” Musk said in another tweet. wrote about the Starlink IPO in articles: “Elon Musk’s Starlink satellite Internet company may go public in” a few years “,” SpaceX in a new round of funding could reach an estimate of $ 60 billion. ”

These statements by Elon Musk echo those of SpaceX President Gwynne Shotwell early last year.

She said at the time that “Starlink is the right kind of business that we can continue and make public.”

Musk told reporters in 2019 that Starlink could generate $ 30 billion in revenue a year, about 10 times the highest annual revenue he expects from SpaceX’s core rocket business.

SpaceX reportedly considered additional funding in December, which would bring the company a valuation of $ 92 billion. In August, the company raised $ 1.9 billion at a valuation of $ 46 billion, the company’s largest round of funding to date.

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