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Blue Origin Reportedly Raising $10 Billion in First Outside Funding Round
Summary
Jeff Bezos's space company, Blue Origin, is reportedly seeking approximately $10 billion in its first external funding round, which would value the company at $130 billion.
Blue Origin, the private space exploration company founded by Jeff Bezos, is in the process of raising about $10 billion in its first-ever funding round from outside investors, according to recent reports. The fundraising effort reportedly values the company at $130 billion. The information comes from sources familiar with the matter who requested anonymity.
According to a report from CNBC, the funding round is expected to include a $2 billion contribution from Bezos himself, with hedge fund Coatue Management providing approximately $4 billion. The remaining $4 billion has reportedly attracted significant interest from several other major investors.
This marks a strategic shift for Blue Origin, which Bezos has exclusively funded since its founding in 2000, primarily through the sale of his Amazon stock. After stepping down as CEO of Amazon in 2021, Bezos has dedicated more of his attention to the aerospace manufacturer and sub-orbital spaceflight services company.
AdBlue Origin is a direct competitor to other private space companies, most notably Elon Musk's SpaceX, in markets including heavy-lift launch vehicles, lunar landers, and satellite internet services. The new capital would likely be used to scale its operations and accelerate development in these competitive areas.
The reported funding round comes after a recent setback for the company. In late May, one of its New Glenn rockets exploded on a launchpad in Florida during a static hot-fire test. Blue Origin is currently working to investigate the cause of the explosion and reconstruct the damaged infrastructure.