Wires

UPDATE 1-Musk's SpaceX plans IPO for Starlink business

(Changes source, adds comment from SpaceX)

Feb 6 (Reuters) - Elon Musk's SpaceX plans to list its space internet venture, Starlink, but not for several years, a company official told Reuters on Thursday.

This comes at a time when e-commerce giant Amazon.com Inc is planning its own voyage into space. The company plans to build a network of over 3,000 satellites to provide high-speed internet through its Project Juniper.

Earlier in the day, Bloomberg reported the possibility of Starlink going public, citing Chief Operating Officer Gwynne Shotwell.

"Right now, we are a private company, but Starlink is the right kind of business that we can go ahead and take public," the report https://www.bloomberg.com/news/articles/2020-02-06/spacex-likely-to-spin-off-sta r l i n k - b u s i n e s s - a n d - p u r s u e - a n - i p o quoted Shotwell saying at a private investor event in Miami.

Musk said last year Starlink was an important new revenue stream for his California-based Space Exploration Technologies, or SpaceX.

The company's so-called Starlink constellation is a planned network of up to 30,000 satellites in low-Earth orbit intended to beam broadband internet globally.

In May, SpaceX launched the first batch of 60 small satellites for Starlink internet service. (Reporting by Joey Roulette in Cape Canaveral and Ayanti Bera in Bengaluru; Editing by Anil D'Silva and Shinjini Ganguli)