The world’s second-most valuable startup decided to price its current tender offer — a transaction that enables employees and insiders like investors to sell shares — at higher than the US$200 billion valuation that was discussed last month, due to significant investor demand, the people said, who declined to be identified as they’re not authorized to speak publicly.
The new valuation is a record for an American private company, but is still lower than the US$268 billion valuation of ByteDance Ltd., parent of social video phenom TikTok. Already, SpaceX is on par with some of the world’s largest, publicly traded companies by market capitalization.
Terms aren’t finalised and the size of the tender offer could change depending on interest from both insider sellers and buyers.
Representatives for SpaceX, formally known as Space Exploration Technologies Corp., didn’t immediately respond to requests for comment.
