Matthew Brown Companies confirms it's in funding talks with Virgin Orbit
SpaceX and OpenAI backing venture capitalist Matthew Brown, of Matthew Brown Companies, has confirmed that his group is in funding talks with space biz Virgin Orbit., that funding amounts to $200 million, which, by virtue of the fact of the leak and the subsequent share price rise, is just $20 million shy of Virgin Orbit's current market capitalization. If the deal goes through, the VC wouldn't just get controlling interest, but become the de facto owner.
The Virgin Galactic spinout was already burning cash when its first satellite launch from the UK failed spectacularly earlier this year after taking off from Cornwall. While Launcher One did leave Earth's atmosphere, it never made it to low Earth orbit with its payload, a mix of civil and military satellites, due to an anomaly which is still being probed.
We can't fault him. No is a complete sentence - and outside our atmosphere the universe can be a very unforgiving place for us meatbags. We're on theside of the fence more than the Jeff Bezos side in this matter, and in any case it's Virgin Galactic that's the space tourism outfit, not satellite launcher Virgin Orbit.
The Boeing can also fly above the kind of weather that can ground one of its vertically launched counterparts. Brown, who told CNBC he has"positions in over 13 space companies", described space companies as a type of"homeowners association, basically an"HOA".
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