Benzinga - by Chris Katje, Benzinga Staff Writer.
Private company SpaceX is a leader when it comes to rocket launches and satellites, pointing the way for the space sector.
With a new tender offer, the private company is one of the most valuable private companies and worth more than many companies you know and love.
What Happened: SpaceX is being valued at $180 billion in a tender offer, surpassing the $175 billion estimates recently reported.
The company is now valued at $97 per share in the secondary sale from insiders, according to a report from Bloomberg.
SpaceX's new valuation tops the $150 billion the company was previously worth. At its new valuation of $180 billion, SpaceX would be the second most valuable private company according to data from CBInsights, trailing only TikTok owner ByteDance ($225 billion).
Bloomberg reported SpaceX's rocket launches and Starlink will post revenue of $9 billion in 2023 and are estimated to hit $15 billion by 2024.
The new valuation for SpaceX makes the private company worth more than other space and defense companies that are publicly traded. This includes Boeing Co (NYSE:BA) and Lockheed Martin Corp (NYSE:LMT), which are valued at $155 billion and $127 billion, respectively, by market capitalization.
Based on a market capitalization of $180 billion, SpaceX would be the 64th most valuable public company in the world, based on data from CompaniesbyMarketCap, if the company were publicly traded.
This new valuation also puts SpaceX ahead of (or tied with) these well-known companies:
64. Comcast: $180 billion
67. Disney: $172 billion
75. Verizon: $159 billion
80. Morgan Stanley: $149 billion
82. International Business Machines: $149 billion
86. Pfizer Inc: $148 billion
88. Caterpillar: $145 billion
94. United Parcel Services: $138 billion
100. General Electric: $132 billion
Related Link: Billionaire Investor Ron Baron Says Elon Musk’s SpaceX Can Be ‘Even Bigger’ Than Tesla By Next Decade
What's Next: SpaceX has been a rumored IPO candidate given its size and valuation and rumors of the company's Starlink unit going public have also been floated around for years.
SpaceX owner Elon Musk previously said the company would have to hit certain milestones before the company would go public, which have been met. Musk also previously said retail traders would get first access to shares if the company does go public in the future.
Investors in SpaceX include Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL), Fidelity and Baillie Gifford. Several Fidelity mutual funds hold stakes in SpaceX.
Read Next: Could SpaceX Or Starlink Be Nearing An IPO? A Recently Passed Milestone Could Be A Clue
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