Elon Musk says Starlink will go public when its cash flow is more predictable
Tesla and SpaceX CEO Elon Musk said he will only publicly list satellite broadband service Starlink when its cash flow is 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.
"Going public sooner than that would be very painful," Musk said in a tweet late Wednesday. "Will do my best to give long-term Tesla shareholders preference."
The billionaire's tweet came after a Twitter user asked him: "Any thoughts on Starlink IPO we would love to invest in the future. Any thoughts on first dibs for Tesla retail investors?"
Starlink, which is based in Redmond, Washington, ultimately wants to provide the world with faster internet, starting by improving internet access in parts of the world that aren't currently served by broadband providers.
