Ark Invest recently stated that its venture capital ETF holds shares in SpaceX. The firm claims that if Starlink, the satellite internet service, were to launch an initial public offering (IPO) on its own, this business alone would be sufficient to support a valuation of approximately $2 trillion, indicating a significantly optimistic assessment of the business's commercial prospects.
Valuation assessment focuses on Starlink
This pricing is not for all of SpaceX's businesses, but rather focuses on Starlink. Ark believes that with the continued expansion of its low-Earth orbit satellite network, Starlink has the capacity to independently support the valuation of a mega-technology company.
Compared to its rocket launch business, Starlink's revenue model is closer to a subscription-based and enterprise service model. For the capital market, this type of revenue structure typically commands a higher valuation premium for platform technology companies.
Ark has already held SpaceX shares through an ETF.
Ark stated that its venture capital ETF already holds SpaceX shares. This means that the institution is not merely making external judgments, but has also participated in equity exposure to this unlisted company through product allocation.
Because there is a lack of conventional channels for direct investment in SpaceX in the public market, any new statements regarding its valuation, financing, and potential listing path usually attract market attention quickly.
Discussions about going public are heating up again.
Ark's statement has reignited discussions about the future IPO plans of SpaceX or Starlink. If Starlink ultimately goes public separately, its valuation will rank among the world's largest technology IPOs.
The information currently available is still based on institutional opinions, not on the company's official IPO plans. The more pressing variables going forward are whether Starlink's user growth, expansion of business clients, and profitability can continue to support this valuation expectation.
