Elon Musk’s aerospace company SpaceX is now valued at $21.2 billion, knocking off WeWork as the fourth most valuable privately held tech company in America. This skyrocket in valuation comes after another round of funding that raised $351 million for the company. According to Equidate, a marketplace for trading private tech company stocks, SpaceX’s price per share is now $135, up from $96.42 prior to the new funding round.
The latest valuation makes SpaceX one of the top five most valuable private, venture-backed tech companies in the US, joining Uber ($69.8B), Airbnb ($31B), WeWork ($20.8B), and the less consumer-facing analytics company Palantir ($21.3B). (SpaceX previously held the sixth spot before Snap, Inc. went public in March.) All five companies are disruptive forces in their respective industries, and also top the world’s most valuable startups alongside Didi Chuxing and Xiaomi, as first pointed out by The New York Times. Last year, SpaceX was valued at $14.6 billion.
SpaceX is most known for its Mars exploration plans and for issuing satellites into space. It’s also a government contractor. This summer alone has been filled with SpaceX launches, with the company completing two in one weekend in June. Yet, last week, Musk suggested that SpaceX wouldn’t be landing Dragon capsules on Mars, but instead had plans to land on Mars with a bigger ship in the future.
This new valuation comes just as Musk’s other venture, Tesla, is set to unveil the new Model 3 tomorrow evening, showing interesting developments for both of his companies.