Jeff Bezos-founded Blue Origin is seeking its first outside investment as the space company looks to accelerate growth and strengthen its position in the commercial space industry. According to a memo sent by Blue Origin CEO Dave Limp to employees and reviewed by Business Insider, the company is looking to raise $10 billion at a $130 billion pre-money valuation. In the email, Limp described the fundraising as an important milestone for the company, saying it reflects investor confidence in Blue Origin’s long-term plans. “We are entering a period where opportunities in space are expanding rapidly,” he told employees. He added that securing the investment would be “a clear vote of confidence from investors and validates the ambition and credibility of what we’re building for the long term.” The fundraising marks the first time Blue Origin has turned to outside investors since Jeff Bezos founded the company in 2000. Until now, the rocket company has largely been financed by Bezos himself. The move also comes as Blue Origin works to catch up with Elon Musk’s SpaceX, which has established a strong lead in the space industry through frequent rocket launches and recently completed a record-breaking public offering.
Full email sent by Dave Limp to Blue Origin employees
Folks,By now, many of you have seen the news that Blue Origin is engaging with outside investors and looking to raise $10 billion at a $130 billion pre-money valuation.This has been in the works for some time and represents confidence in our mission, our strategy, and most importantly, the work each of you has done to build Blue into the company it is today.We are entering a period where opportunities in space are expanding rapidly. Securing this investment will be a clear vote of confidence from investors and validates the ambition and credibility of what we’re building for the long term.While the headlines will naturally focus on the dollars, I’d encourage all of us to think about today’s announcement differently. A valuation is not our mission. It’s not a finish line. It’s an assessment of what investors believe we can do together. What matters most will continue to be determined by our execution, our innovation, and our ability to deliver for customers.We will share more details as we have them and will take questions at our upcoming Town Hall on July 30th.It’s Worth It-Dave
