Musk's SpaceX plans IPO for Starlink business

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© Reuters. SpaceX's Elon Musk gives an update on the company's Mars rocket Starship in Boca Chica© Reuters. SpaceX’s Elon Musk gives an update on the company’s Mars rocket Starship in Boca Chica

(Reuters) – Elon Musk’s SpaceX plans to list its space internet venture, Starlink, but not for several years, a company official told Reuters on Thursday.

This comes at a time when e-commerce giant Amazon.com Inc (O:) is planning its own voyage into space. The company plans to build a network of over 3,000 satellites to provide high-speed internet through its Project Juniper.

Earlier in the day, Bloomberg reported the possibility of Starlink going public, citing Chief Operating Officer Gwynne Shotwell.

“Right now, we are a private company, but Starlink is the right kind of business that we can go ahead and take public,” the report quoted Shotwell saying at a private investor event in Miami.

Musk said last year Starlink was an important new revenue stream for his California-based Space Exploration Technologies, or SpaceX.

The company’s so-called Starlink constellation is a planned network of up to 30,000 satellites in low-Earth orbit intended to beam broadband internet globally.

In May, SpaceX launched the first batch of 60 small satellites for Starlink internet service.

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