Blue Origin to raise $10B at $130B valuation: Report
What's the story
Jeff Bezos's space venture, Blue Origin, is reportedly looking to raise $10 billion in its first-ever external funding round. The company has been valued at $130 billion pre-money, according to a New York Times DealBook report. The move comes as investor interest in space companies has surged after SpaceX's recent IPO last month.
Funding details
Coatue Management to lead funding round
The funding round will be led by Coatue Management, a major asset manager, with a $4 billion commitment. Bezos is also expected to contribute an additional $2 billion toward the fundraising effort. This comes after SpaceX's debut at a valuation of about $1.75 trillion after raising around $86 billion in what became the largest IPO globally.
Company profile
Blue Origin has been largely funded by Bezos himself
Founded in September 2000, Blue Origin has been largely funded by Bezos himself. The company has bagged multibillion-dollar contracts from NASA and the US Space Force for projects like the Artemis lunar program and national security launch missions. Despite trailing SpaceX in launch cadence and revenue, Blue Origin is still focused on launch services, rocket engines, and government space programs.