Source: Reuters (via feed)
SpaceX plans to expand its Starlink business with new products and services, according to sources familiar with the matter. The company is developing a Starlink phone and aims to launch direct-to-device internet access. In addition, SpaceX is considering a space-tracking service. These initiatives could broaden the company’s reach into new markets.
Meanwhile, SpaceX is preparing for a possible initial public offering (IPO) later this year. The growth of Starlink’s revenue-generating business is expected to be a key factor in the IPO plans. The developments come as SpaceX continues to ramp up its satellite internet service.
Starlink currently provides broadband internet through a global network of low Earth orbit satellites. The expansion into phone technology and direct internet access to devices marks a move to diversify its offerings. The space-tracking service would add another layer to its product lineup. Details on timelines or pricing have not been disclosed.
Expanding Starlink’s services may increase SpaceX’s revenue streams, which is important for its planned IPO and market valuation.
