Elon Musk-led SpaceX has received more than 500,000 orders for its high-speed, satellite-based Internet service Starling, the company said Tuesday.
What happened: Starling, which is currently in the beta phase, is a SpaceX initiative designed to access the Internet, especially in remote areas away from satellites in orbit.
SpaceX offers $ 99 a month service and an additional $ 499 one-time kit that includes a user terminal and WiFi router to connect to satellites.
“To date, more than half a million people have placed an order or put down a deposit for Starling,” SpaceX space operations engineer Siva Bhardwaj said during the launch of SpaceX’s latest Starling satellites.
At those rates, 500,000 orders would fetch $ 594 million a year in revenue and $ 499 in one-time expenses, an additional $ 249.5 million.
SpaceX has previously stated that orders are “fully refundable”, and that there may be limits to service designed to go anywhere on earth, with no guarantee on deposits.
Why this is important: Kasturi, who leads Tesla Inc. (Nasdaq: DSLA), On Twitter, said that “mostly,” 500,000 pre-orders would all be delivered, and that Starling would face a “high challenge” only when the number of users was running into the millions.
The only limit is the high density of users in urban areas. Most likely, the initial 500k will all be serviced. A challenge when we come to the multi-million user range.
– Elon Musk (ol Elon Musk) May 4, 2021
Interest in the space-based web network is increasing as more and more companies are focusing on capabilities. Security Contractor Lockheed Martin Corps (NYSE: L.M.T.) Space unit Affiliated with Omnispace LLC To create something similar and direct competition with SpaceX.
The space-based network will eliminate the need for ground terminals and deliver 5G capabilities directly from space to telecommunications devices.
Price action: Shares of Tesla fell 1.65% to close at $ 673.60 on Tuesday.
Photo J.D. வீசல் On Wikimedia
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