SpaceX is ranked third in the Unicorn List

SpaceX also became the first business to send astronauts into the orbit of the Earth

SpaceX is now ranked third in the list of Unicorn companies, reported CNN. The company is now valued $46 billion and also became the first business to send astronauts into the orbit of the Earth.

Recently, SpaceX completed a $1.9 billion funding round, according to Crunchbase. The overall valuation went up after the funding round.

CBinsigts published research on the unicorn companies where it was defined as- “A unicorn startup or unicorn company is a private company with a valuation of over $1 billion. As of August 2020, there are more than 400 unicorns around the world. Variants include a decacorn, valued at over $10 billion, and a hectocorn, valued at over $100 billion.”

So the definition also puts SpaceX into the decacorn company list for crossing the $10 billion valuations.

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Why SpaceX ranked third among the Unicorn Companies?

Valuation of a privately-held company is not straightforward. Analysts need to put a lot of guesswork since private companies are not obligated to share financial information.

Even the new investment negotiations might hold behind the doors.

SpaceX is ranked third in the Unicorn List
CBinsigts published the report listing the Unicorn Companies including SpaceX

Sometimes analysts overvalue or undervalue companies due to the complexity of the analysis. According to Morgan Stanley reports, SpaceX is undervalued by more than $150 billion which keeps it in third place.

The report also stated that considering Starlink, an experimental satellite-internet project of the company, SpaceX worths more.

Since the company is undervalued it falls behind the two Chinese giant ByteDance and Didi Chuxing. Both companies are above the $50 billion mark and supported by top investors like Sequoia Capital China, Softbank Corp, etc.

According to Chad Anderson, CEO of investment firm Space Angels, “SpaceX’s other ventures — including launching astronauts and cargo for NASA, building massive prototypes for a would-be Mars rocket, and launching satellites for the US military — all give investors plenty of reason to clamor for a chance to own a piece of SpaceX.”

Space Angels is one of the investors in SpaceX, growing its stakes over the years.

But investors have no opportunity to make real money without selling the SpaceX stakes. So they keep the stakes in a hope that it will grow multiple times in the future.

Moreover, CEO Elon Musk has no intention to go public anytime soon.

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Ehsanul Hoq
Ehsanul Hoq
Ehsanul Hoq is a freelance writer and researcher in the Business and Finance domain. He regularly writes for blogs, startups, and agencies. He covers business-related trending topics like Cryptocurrency, Personal Finance, Technology, and Real Estates.