SpaceX’s blockbuster IPO did more than turn Elon Musk’s rocket company into one of the world’s most valuable businesses.
Investors and founders say it is also helping transform space from a government-dominated industry into a supercharged startup market ripe for disruption.
The company raised about $85.7 billion in its June initial public offering—the largest IPO on record—after pricing its shares at $135. Since then, shares have fallen to $110, as stocks face a downward slide.
Yet, the most important achievement from SpaceX’s IPO may not be its size but its lasting after effects, say experts.
Investment in the space industry had already accelerated in anticipation of the listing with global funding for space companies reaching an all-time high $7.95 billion in the first quarter, nearly double the $3.93 billion invested during the previous three months, according to Seraphim Space data. Investors completed 159 transactions during the quarter, bringing the trailing 12-month total to a record 654 deals.
