2009
Abu Dhabi's sovereign wealth fund invested $280 million in Virgin Galactic at an $875 million valuation.
“they invest $280 million in Virgin Galactic at an $875 million valuation”
Topic
Virgin Galactic
15 facts from 2 episodes, in date order. These are what speakers said on the shows, each linked to the moment it was said. They aren't independently verified.
2014
Virgin Galactic's SpaceShipTwo VSS Enterprise broke apart in a test flight on October 31, 2014, killing co-pilot Michael Alsbury.
“the second major tragedy in Virgin's history happens on October 31st, Halloween, 2014”
2014
The investigation found the feather system deployed too early on the way up during the 2014 flight, and the design was later changed.
“the feather system that we described early deployed way too early on the way up, not on the way down”
2018
VSS Unity reached 82.7 kilometers (51.4 miles) in a December 2018 test flight, passing NASA's 50-mile definition of space.
“Unity finally reaches in a test flight 82.7 kilometers above the earth, 51.4 miles”
2019
The merger of Social Capital Hedosophia with Virgin Galactic was finalized on October 28, 2019, changing the ticker to SPCE.
“by mid 2019, they agree to a deal. And on October 28th, 2019, it's finalized”
2019
Virgin Galactic received about $450 million in new cash from the SPAC deal after fees and the $274 million insider buyout.
“Virgin gets $450 million in new cash to the balance sheet after transaction fees”
2019
For the twelve months ended June 30, 2019, Virgin Galactic reported $4 million of revenue and a $173 million operating loss.
“Virgin Galactic had revenue of $4 million and an operating loss of $173 million”
2020
Michael Colglazier, named Virgin Galactic CEO in July 2020, had spent nearly 30 years at The Walt Disney Company, mostly in parks.
“he spent his whole career, except for his internship during business school, 30, close to 30 years at the Walt Disney Company”
2020
The host says SpaceX most recently raised money privately at a $50 billion valuation, versus about $5.2 billion for Virgin Galactic.
“SpaceX most recently raised money in the private markets at $50 billion.”
2020
Branson says Virgin Atlantic was saved during Covid by selling Virgin Galactic shares.
“I mean, being able to sell, sell Virgin Galactic shares”
2021
Virgin Galactic's mothership was named after Branson's mother Eve, who died of Covid before she could join him on a space flight.
“you've named the mothership after Eve. And then, tragically, um, she passes away from Covid before she has the chance to embark on that space journey with you”
Undated
The New Mexico government built and financed Spaceport America, with Virgin Galactic as anchor tenant paying about $5 million a year.
“constructs and finances the whole spaceport. Virgin is the anchor tenant. And I believe they pay $5 million a year in rent”
Undated
Branson registered Virgin Galactic Airways and searched the world for someone to build a spaceship.
“we registered Virgin Galactic Airways, and um, and I was set up, went, went around the world trying to see if we could find somebody to build us a spaceship”
Undated
Branson found the aircraft designer Burt Rutan to build a spaceship.
“and then just found this genius, Burt Rutan.”
Undated
Branson says Virgin Galactic's spacecraft can automatically shut down its engine if something goes wrong with the rocket motor.
“we can automatically switch off a, um, uh, an engine if, uh, you know, if if anything's wrong goes wrong with the rocket motor”
Episodes