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Blue Origin reportedly raising $10B at $130B valuation
Blue Origin, led by Jeff Bezos, is raising $10B at a $130B valuation from Coatue and other investors following a recent rocket testing setback. The funds will help recover from the New Glenn rocket explosion, support NASA's Artemis missions, and fund a proposed satellite internet network, reflecting a shift towards space data centers.
Key points
- Jeff Bezos’ Blue Origin is looking to raise $10 billion at a $130 billion valuation.
- Coatue Asset Management is expected to invest around $4 billion.
- Bezos himself is reportedly contributing $2 billion to this round.
- The funding comes after a setback from the explosion of the New Glenn rocket during its testing in May.
- Blue Origin aims to use the New Glenn rocket for future launches and is prioritizing its operational readiness.
- The funding will support Blue Origin's intentions to assist NASA's Artemis missions to the moon.
- There are plans to establish a satellite internet network to offer data connectivity using a constellation of satellites.
Why it matters
- The funding comes in the wake of significant growth in space ventures, exemplified by SpaceX's IPO which raised over $85 billion.
- The proposed satellite internet initiative reflects a growing trend of leveraging space for computing and data services.
- Blue Origin's shift towards supporting government missions aligns with increased public-private partnerships in the space industry.
- The focus on rebuilding launch infrastructure indicates ongoing challenges in the commercial space launch sector.
The $10 billion funding initiative marks a critical development for Blue Origin as it strives to recover from setbacks, expand its operational capacity, and innovate in satellite internet services, aligning with broader trends in the space industry.