Elon Musk-led SpaceX plans spin-off, IPO for Starlink satellite business

Elon Musk-led SpaceX plans to spin out its satellite internet business Starlink into a separate company and pursue an initial public offering (IPO) for it, said COO Gwynne Shotwell. She said Starlink was the "right kind of business" for such a move. SpaceX has so far launched 240 Starlink satellites into orbit, aiming to provide low-cost and high-speed internet globally.