SpaceX Is Now Worth More Than Dropbox, Snapchat, Or Airbnb

Elon Musk’s rocket company SpaceX is now worth $US12 billion, The Wall Street Journal reports, based on details of its latest $US1 billion funding round.

SpaceX raised the money from Google and Fidelity, but The WSJ’s sources say the majority of the cash came from Google.

The search giant, which is interested in SpaceX’s ambitions of using satellites to beam low-cost internet around the world, reportedly bought a 7.5% stake for $US900 million.

That would bring SpaceX’s valuation to a sky-high $US12 billion, ranking it fourth on The WSJ’s list of billion-dollar private companies.

It’s now more valuable than Dropbox, Snapchat and Airbnb, but still behind Xiaomi ($US46 billion), Uber ($US41.2 billion), and Palantir ($US15 billion).

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