Jeff Bezos is opening Blue Origin to outside investors for the first time since founding the space company in 2000, as it looks to catch up with Elon Musk's SpaceX, which recently completed a record-breaking $86 billion initial public offering (IPO). According to a memo sent by Blue Origin CEO Dave Limp to employees and reviewed by Business Insider, the company plans to raise $10 billion at a $130 billion pre-money valuation.

Jeff Bezos's Blue Origin is raising about $10bn in its first outside round, valuing the rocket firm at $130bn, CNBC reports, after SpaceX's record IPO.

Blue Origin is raising $10B in outside capital at a $130B valuation, marking a historic shift from Bezos-only funding for the rocket company.