Elon Musk's SpaceX valued at $21 billion

Environment Secretary Michael Gove

Falcon Heavy, the high-capacity rocket created by SpaceX designed for bringing very large loads to orbit and beyond, will get its first launch this coming November, according to SpaceX founder and CEO Elon Musk.

In September, the company suffered a major setback when, during fueling for an engine test, one of its Falcon 9 rockets caught fire on the launchpad and exploded, destroying a $200 million satellite.

It's also worked out a plan to cheapen launches even further by reusing portions of its rockets - an idea that was initially scoffed at. So far two launches have been completed, that also involved successful landings.

With the ability to lift into orbit over 119,000 pounds - a mass equivalent to a 737 jetliner loaded with passengers, crew, luggage and fuel - Falcon Heavy can lift more than twice the payload of the next closest operational vehicle, the Delta IV Heavy, at one-third the cost. After some trial and error, the company mastered the maneuver and has also twice sent used rockets back into space, boasting a flawless performance for both launches.

Rocket manufacturing has always been exclusively the work of governments and massive legacy aerospace companies - like Boeing and Lockheed Martin's United Launch Alliance - that partner with governments.

Rahane and Pandya pile on runs as India near massive lead
Nuwan Pradeep was the only successful bowler for Sri Lanka , as he picked up all the 3 Indian wickets on the day. Perera hit Ravichandran Ashwin for a six and took a single off the next ball to bring up his fifth test fifty.

SpaceX has made ten space missions to the ISS under the NASA's space cargo resupply contract.

The space company has managed to raise funding from several investors, which include Founders Fund, Google, Fidelity, Capricorn, Draper Fisher Jurvetson, and Valor Equity Partners. SpaceX, the rocket maker founded by the technology entrepreneur and best known for wanting to colonize mars, is now worth an estimated $21 billion, making it one of the most valuable privately held companies in the world.

SpaceX conducted a launch of a single Falcon rocket in May of this year from Cape Canaveral. The general consensus has been that space exploration is too risky and rocket building too expensive for the private sector.

The latest valuation makes SpaceX one of the top five most valuable private, venture-backed tech companies in the U.S., joining Uber ($69.8B), Airbnb ($31B), WeWork ($20.8B), and the less consumer-facing analytics company Palantir ($21.3B).

A diagram showing SpaceX's milestones.

Related News:



Most liked

Samsung Pay might be heading to non-Samsung phones
The favourable reception of Samsung's Galaxy S8 and S8 Plus has indeed translated into good n terms of sales and profits . The most impressive fact is that Samsung's mobile division estimated for 29 percent of the company's profits this year.

Axis Bank is all set to buy FreeCharge for Rs 400 crore
The bank has continued to leverage its strong retail franchise, resulting in a year-on-year growth of 19% in the retail portfolio. As far as net NPAs are concerned, it stood at 4.86% during the quarter compared with 3.01% in Q1FY17 and 4.89% in Q4FY17.

Russia Orders US Embassy Staff Cuts in Sanctions Retaliation
Russia's retaliation, outlined in a statement from the Foreign Ministry, came a day after the Senate voted to slap new sanctions on Russian Federation .

IN officer dies after shot multiple times
That person and a second occupant, who was injured in the crash, were taken the hospital and were being held there by the police. A Southport Police Department officer has been shot along Madison Avenue in a residential area in southern Marion County.

In Apparent De-escalation, Abbas Calls For Return To Prayer In Al-Aqsa
Three Palestinians protesters were killed and hundreds of others were wounded last Friday in violent clashes with Israeli forces. The demonstrations often turned into clashes between Palestinian protestors and Israeli soldiers, fueling a wave of unrest.

At least 48 people injured in train crash at station in Barcelona
The accident occurred as the train was approaching central Barcelona's Francia station during rush hour on Thursday morning. The train did not brake in time when entering the station, hitting the buffers at the platform, according to reports.

Would you use Samsung Pay on your non-Samsung smartphone?
All of Samsung's Galaxy-branded phones that support Samsung Pay come with a special component dedicated to the MST technology. Competing services Android Pay and Apple Pay don't offer a similar functionality, and work only with NFC-enabled terminals.

Samsung Galaxy Note 8 to have 256 GB, Emperor Edition in pipeline
Those other products helped the South Korean tech giant post record profits for the second quarter . What's also interesting about Samsung's wording is the "marketing expenses" reference.

Credit Suisse AG Cuts Position in GlaxoSmithKline PLC (NYSE:GSK)
Heritage Trust Co bought a new position in shares of GlaxoSmithKline PLC during the first quarter worth about $123,000. J P Morgan Chase & Co reissued a "neutral" rating on shares of GlaxoSmithKline PLC in a report on Wednesday, May 31st.

Israeli measures in Jerusalem 'illegal': Arab FMs
Israeli police said officers had responded after stones were thrown at officers at the gates to the site. On July 14 two Israeli police officers were shot just outside the compound by three Palestinians.

Barclays swings to loss on Africa write-down
Barclays made a £1.4bn loss on the sale of a 33.7% stake in the Africa business and booked an impairment of £1.1bn. But that was still below the £2.7bn average estimate in a poll of analysts, according to Reuters.

US Admiral ready to execute POTUS order, including order to nuke China
Pacific Fleet said he stands ready to carry out the president's nuclear strike orders no matter the target. He then warned against the USA military shifting its allegiance from its commander in chief.

Hamilton to unleash bid for sixth win to overhaul Vettel
Hamilton, who has won the Hungarian GP five times, needs one more pole position to match Michael Schumacher's all-time record 68. Vettel won in Hungary two years ago and will hope that the trend continues that no driver wins two races in a row this season.

West Ham United should keep faith in Robert Snodgrass
Eagles boss Frank De Boer - who has seen a move for Barcelona's Jasper Cillessen collapse - needs competition for Wayne Hennessey. Joe Hart says he's always loved West Ham after joining the East London club on a season-long loan.

Time Warner Inc. (NYSE:TWX) Reviewed By Analysts
The media conglomerate reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.22. Several institutional investors have recently bought and sold shares of TWX. 154 funds opened positions while 293 raised stakes.