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Blue Origin, for the first time, is expected to raise private capital
Ars Technica • • general
Key Points:
- Blue Origin, founded by Jeff Bezos, is raising $10 billion in private capital, leading to a valuation of $130 billion, with Coatue Management expected to lead the round with $4 billion and Bezos contributing $2 billion.
- The company aims to compete with SpaceX in spaceflight, telecommunications, and data centers from space, developing heavy-lift rockets, lunar landers, and two megaconstellations.
- Blue Origin's New Glenn rocket, central to its ambitions, suffered a major setback with a launch pad explosion in May, but Bezos and CEO Dave Limp are urgently rebuilding and aiming to return it to flight within 12 months.
- The company has announced two large satellite constellation projects, TeraWave and Project Sunrise, requiring substantial funding to provide global high-speed connectivity and compete in the satellite launch market.
- Bezos, fatigued by self-funding, is now seeking outside investment to reduce his financial burden and provide capital for growth, following the departure of former CEO Bob Smith and failed efforts to make Blue Origin cash-flow neutral.
