June 9, 2023

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Starlink hits an incredible milestone in terms of subscribers as a potential IPO approaches

Starlink has achieved a subscriber milestone, thanks in large part to its record user growth over the past six months.

SpaceX has been operating for profitability since its founding by Elon Musk. One of its primary tools to help achieve this financial success is its satellite internet service, Starlink. Now, with the service growing in both coverage and offerings, it’s reached a new milestone for subscribers, which could be crucial as the company looks into a potential initial public offering.

According to SpaceX, which Sawyer Merritt initially reported on Twitter, Starlink has achieved 1.5 million subscribers and record user growth of 3,600 new subscribers per day.

In celebration of reaching this astronomical number of subscribers, SpaceX posted a video to its Instagram account showing some of the amazing projects in which the Starlink service is being used.

Helping to significantly increase the number of subscribers over the past six months has been the expansion of services and offers from the Internet provider. And in particular, by expanding into the aeronautical and marine use cases, SpaceX is poised to significantly increase revenue from these Internet-deficient segments. Furthermore, for customers residing on the ground, Starlink has provided satellite receivers for those on the move and for customers in some of the harshest conditions on the planet.

Along with this growth in service, Starlink has also dramatically increased internet speeds as it works to launch its next-generation satellites. These satellites also help ensure more consistent coverage in remote and hard-to-reach areas where Starlink customers want service to operate.

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Looking to the future, many believe that SpaceX or its Starlink unit could come to the stock market with one of the most significant IPOs in years. These rumors have not been confirmed by SpaceX, Starlink, or their CEO Elon Musk. However, with the ability to revitalize the business with fresh capital, it can be a useful tool as the internet provider looks to continue expanding and improving its operations.

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