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The private spaceflight company SpaceX, founded by Tesla (NASDAQ:TSLA) CEO Elon Musk, is reportedly looking to raise $750 million in a new funding round.
According to CNBC, the funding round, which is likely to be led by Andreessen Horowitz (a16z), values the space business at $137B. Andreessen Horowitz also backed Musk in his successful bid to take Twitter private.
The new funding round comes after Bloomberg reported that SpaceX allowed insiders to sell at $77 per share. Last year, SpaceX raised $2B, including the May funding round that valued the company at $127B.
SpaceX’s satellite internet service, Starlink, has reportedly exceeded 1M subscribers.
