SpaceX

SpaceX
Industry:
Exploration Technologies
Founded:
2012
Funding:
$1.6B

About

Space Exploration Technologies Corporation (SpaceX) is a space-transportation startup company founded by Elon Musk. It is developing the partially reusable launch vehicles Falcon 1 and Falcon 9. Originally based in El Segundo, SpaceX now operates out of Hawthorne, California, USA.

SpaceX was founded in June 2002 by Musk who had invested $100 million of his own money in the company as of March 2006. In January 2005, SpaceX bought a 10% stake in Surrey Satellite Technology Ltd.

SpaceX had 160 employees in November 2005, and more than 500 by July 2008. The launch crew in the Marshall Islands has 25 people, 6 in mission control. This small number, compared to similar space launch companies, is part of cost reduction. Musk sees other space-launch services' high prices as supporting unnecessary bureaucracy. He's stated that one of his goals is to improve the cost and reliability of access to space by a factor of ten.

Elon Musk stated after the failure of the third Falcon 1 flight attempt, "As a precautionary measure to guard against the possibility of flight 3 not reaching orbit, SpaceX recently accepted a significant investment. Combined with our existing cash reserves, that ensures we will have more than sufficient funding on hand to continue launching Falcon 1 and develop Falcon 9 and Dragon"; on August 4, SpaceX released further details; they had accepted a USD$20 million equity investment from the Founder's Fund.

Founded in 2002, the SpaceX team now numbers over 500, located primarily in Hawthorne, California, with four additional locations: SpaceX's Texas Test Facility in McGregor near Waco; offices in Washington DC; and launch facilities at Cape Canaveral, Florida, and the Marshall Islands in the Central Pacific.

Investor Track Record

Google
Magic Leap, 23andMe, Barefoot Networks, Niantic Labs
Draper Fisher Jurvetson
Theranos, Planet, Twitter, Box, Good Technology, Prosper, Unity Technologies, Twilio, Tango
Elon Musk
Stripe
Founders Fund
Lyft, Airbnb, Palantir Technologies, Wish, Spotify, Planet, Affirm, Domo, Oscar
Fidelity Investments
Uber, Snap, Alibaba, Jet, Airbnb, Magic Leap, Pinterest, Spotify, WeWork
Rothenberg Ventures
Robinhood, Revel, Luxe, Kespry Inc., AngelList, Lantern, AltspaceVR
Valor Equity Partners
Addepar

Funding History

Dec 2002 : $61,000,000
Feb 2005 : $11,000,000
Feb 2007 : $31,500,000
July 2008 : $29,100,000
Mar 2009 : $47,250,000
Oct 2010 : $50,625,000
Jan 2015 : $1,006,980,000
Nov 2017 : $452,250,000