Elon Musk’s satellite-based broadband service Starlink, part of his space venture SpaceX, will go public once its revenue is ‘reasonably predictable’.
Taking to Twitter, Musk – who sits at the helm of several high-tech companies – added that “going public sooner than that would be very painful”.
SpaceX is building a new factory in Texas for its Starlink services, according to a job posting from the company, another mark of investment in the southern state from Musk.
City A.M. has contacted SpaceX for comment.
The Starlink job posting suggested movements were being made on a “new, state-of-the-art” manufacturing facility in Austin, Texas. Musk has previously said that his Starlink venture will be key to eventually colonising Mars.
In March, it was reported that the government was in talks with Musk’s Starlink over using satellites to help roll out full-fibre broadband in the most remote parts of the UK.