Musk plans to use the Starli­nk revenu­e to help fund develo­pment of its next-genera­tion rocketElon Musk’s SpaceX is looking to raise about $250 million, taking the private rocket company’s valuation to about $36 billion, CNBC reported on Friday, citing people familiar with the financing. The company plans to raise the amount at a price of $220 per share and the latest funding round is not expected to close until the second week of March, according to the report. SpaceX did not immediately respond to Reuters request for comment. The company has long-term plans to spin Starlink off as a publicly-traded company in the next several years, a company official told Reuters earlier this month. Tesla’s cyber truck garners hilarious Twitter reactionsThe funding round reported by CNBC would come months ahead of SpaceX’s first manned mission to space under NASA’s Commercial Crew Program.

Source: The Express Tribune February 22, 2020 07:18 UTC