Chinese upstart Spacesail is trying to steal SpaceX’s thunder.
State-backed Spacesail launched two satellites on a reusable rocket on June 1, just days before SpaceX’s $1.8 trillion listing on June 12, the largest public offering to date. Much of SpaceX’s valuation rests on Starlink, the satellite internet service, which has over 10 million customers across 100 countries.
Spacesail appears to be deliberately targeting countries where Starlink has faced issues.”
Starlink’s 7,000 satellites dominate internet service in virtually every market where they are present. User growth slowed in the first quarter of this year as sign-ups tapered in established markets, and rapid expansion left a trail of disgruntled partners and regulators.
Meanwhile, Spacesail launched three batches of satellites in five days, reaching 200 in orbit on June 5. The company has moved into markets where Starlink’s complacency had created openings.
