Some customers who enjoy a risk with their investments are all-in with Elon Musk’s latest major endeavor for his SpaceX company.
On Monday, he began to accept preorders from potential consumers for Starlink, an interconnected internet network with thousands of satellites in low orbit covering the globe with high-speed service.
The sign-up: Preorders are now available via the company website for $99. Some regions show preorder messages that say SpaceX is “targeting coverage in your area in mid to late 2021,” while other preorders say 2022.
SpaceX is expanding its sphere of influence, reaching customers in the U.S., Canada and the U.K. with the offer.
In addition to the $99 a month, customers pay a $499 upfront cost, plus shipping costs, for the Starlink kit, which includes the WiFi router and a dish to connect to the satellites.
The preorders are “fully refundable,” according to the website, with fine print noting that “placing a deposit does not guarantee service.” And the “orders may take 6 months or more to fulfill” depending on a user’s location.
The cost to build the network? SpaceX estimates the build will be expensive, about $10 billion or more.
The upside? SpaceX leadership said when the network is up and running, it could be expected to bring in $30 billion a year.
“Once we can predict cash flow reasonably well, Starlink will IPO,” Musk said in another tweet.
As Rich Smith wrote for The Motley Fool: “Starlink is expanding, and its momentum is building. The big question now is: When will Musk capitalize on the momentum and announce his Starlink IPO?”