Liftoff: SpaceX's valuation just keeps soaring

6/27/23 7:00PM

Liftoff‍

‍SpaceX is reportedly looking to sell insider shares at $80 apiece — a price point that would propel the valuation of the company to an astonishing $150bn, making it the second most valuable startup in the world, second only to TikTok owner Bytedance.

Founded in 2002 by Elon Musk, SpaceX was created to revolutionize space transportation, with a longer term goal of one day colonizing Mars. However, the venture — perhaps unsurprisingly — quickly proved to be an expensive undertaking. After initially looking to reuse old Russian rockets, the SpaceX team realized they might be able to make the rockets cheaper themselves. Various failed launch attempts (and flirtation with bankruptcy) ensued before the company started to prove itself. External funding came in waves, and every milestone from reusable rockets to crewed missions saw SpaceX’s credibility, and its valuation, grow.

‍The wifi frontier

‍The company has significantly increased the number of satellites and rockets it launches into space, becoming the busiest rocket launcher globally. Such expertise has enabled SpaceX to build out its network of Starlink satellites, which aim to provide global internet access. There are now more than 4,000 satellites in its “Wifi constellation” — and the company has reported having 1.5 million subscribers.

Delta, the K-shaped airline

Delta’s premium ticket sales grew more than 7% in 2025. Its main cabin ticket sales fell 5%.

Diageo is considering selling parts of its struggling China business

The Guinness and Johnnie Walker giant has its work cut out in the nation, where drinking has sunk since 2015.

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Paramount sues Warner Bros. for more info on its deal with Netflix, says it plans to nominate new directors

It’s a fresh week and that means a fresh bit of escalation in the ongoing Warner Bros. Discovery merger drama.

At an upcoming meeting, Paramount Skydance plans to “nominate a slate of [WBD] directors who, in accordance with their fiduciary duties, will... enter into a transaction with Paramount,” CEO David Ellison wrote in a letter to WBD shareholders disclosed on Monday.

Ellison also said that Paramount sued WBD in Delaware court in an effort to force the board to disclose “basic information” that will allow shareholders to make an informed decision between Paramount’s offer and one from Netflix. WBD shares dipped about 2% on Monday morning.

The latest update follows Paramount’s move last week to reaffirm — but not raise — its $30-per-share offer for WBD. Some saw that decision as Paramount effectively throwing in the towel on its merger hopes, given that the same deal has been rejected twice by the WBD board and winning over shareholders directly is a difficult process. Monday’s disclosure appears to signal that whether it loses or not, Paramount isn’t going to make Netflix’s acquisition easy.

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one battle after another

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Saks Global nears bankruptcy as department stores lose ground in America

On top of its debt-laden luxury merger, the retailer’s operating in a sector that’s been in retreat for over 20 years.