Elon Musk says he plans to publicly list satellite broadband service provider Starlink once the company’s cash flow becomes more predictable.
Starlink, which is currently operated by space exploration firm SpaceX, allows people to connect to the internet via a satellite dish that is placed on or near their property. The internet is beamed down to the dish via Starlink satellites that have been put into orbit by SpaceX.
Musk has said that Starlink could be spun off from SpaceX through an initial public offering (IPO).
Starlink, which is based outside Seattle, Washington, wants to provide the world with faster internet, and improve internet access in parts of the world that aren’t currently served by broadband providers.
The company plans to put thousands of small telecom satellites into low-Earth orbit that can beam high-speed, low-latency internet to the ground. Starlink is currently trialing its service with customers in 11 countries including the U.S. and the United Kingdom.
Musk said in May that the company had received more than 500,000 pre-orders for its internet service and anticipates no technical problems meeting demand.
Starlink has said it plans to launch 12,000 satellites at a cost of $10 billion U.S. Starlink should be able to provide continuous global internet coverage by September this year, the company has said. Musk has said that SpaceX could make up to $30 billion a year by providing broadband internet.
