Tesla Inc TSLA CEO Elon Musk said on Monday SpaceX has secured over 250,000 user terminals for its high-speed, satellite-based internet service Starlink.
What Happened: The world’s richest person tweeted the milestone to his large fan base on Monday.
The billionaire entrepreneur’s privately-held space-internet venture has been sending more satellites to low-orbit space, which then beam back low-cost, high-speed internet service to remote locations across the earth.
Starlink is known to have launched over 2,000 satellites last month.
SpaceX hopes to have 4,425 Starlink satellites in orbit by 2024; the Federal Communications Commission has approved 11,943 satellites to be launched by Starlink.
The service is offered at $99 a month with an additional $499 one-time cost for the kit that includes a user terminal and Wi-Fi router to connect to the satellites.
Coverage Expansion: Musk revealed in a separate tweet on Monday that Starlink has plans to launch in Africa, details of which would be announced soon.
Announcements coming soon
— Elon Musk (@elonmusk) February 14, 2022
See Also: Elon Musk's SpaceX To Launch 49 More Starlink Satellites Via Falcon 9 On Thursday
The Starlink CEO in August last year said SpaceX had shipped 100,000 terminals of Starlink, adding he hoped the service would be available across the “Earth” soon.
Musk had last year revealed that Starlink service would be expanded to 14 countries. The company is awaiting licenses in several other countries and it has said it is a few years away from delivering a “reasonably predictable” revenue.
Price Action: TSLA shares closed 1.83% higher at $875.7 a share on Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
