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Space-tourism biz Virgin Galactic goes public | News, Sports, Jobs
was written by , 2019-07-13 05:23:00
be sure to visit their website, source link is at the end of the article
LONDON (AP) — Richard Branson’s space-tourism venture, Virgin Galactic, is planning to go public, creating the first listed human spaceflight firm.
Virgin Galactic said Tuesday it is merging with Social Capital Hedosophia, whose CEO, Chamath Palihapitiya, will become chairman of the combined entity. The value of the merger was put at $1.5 billion.
“We are at the dawn of a new space age, with huge potential to improve and sustain life on Earth,” Branson said. “I am delighted that SCH has decided to become such an important part of our amazing journey. They share our dreams and together we will make them reality.”
The company intends to offer “a unique, multi-day experience culminating in a personal spaceflight that includes out-of-seat gravity and views of Earth from space.” It aims to complete the merger this year before listing on the New York Stock Exchange.
The company believes it is at an “inflection point” in its development as it moves toward launching commercial operations, and said it had overcome a number of the technical hurdles required to make the company profitable.
In December, Virgin Galactic’s tourism spaceship climbed 51 miles (82 kilometers) above California’s Mojave Desert, reaching for the first time what the company considers the boundary of space. The supersonic flight took the company closer to its aim of taking paying customers on the six-passenger rocket, which is about the size of an executive jet.
During a second flight in February, the spaceship, VSS Unity, carried pilots as well as a crewmember who tested the passenger experience. V
irgin Galactic also recently announced it is moving more than 100 employees from Mojave, California, to a spaceport in New Mexico where they plan to conduct commercial operations.
It said that some $1 billion had been invested in the project since its inception in 2004, and that people are interested in taking part. Virgin Galactic said it has reservations from some 600 people in 60 countries, with $80 million in deposits and $120 million in potential revenue.
“In a transforming world of experiences and social media, VG believes that the market for exclusive, experiential products will continue to expand quickly and represents a significant opportunity for future growth,” it said in the merger announcement.
Branson isn’t alone in the space tourism business: Jeff Bezos’ Blue Origin is planning to take space tourists on trips while SpaceX’s Elon Musk recently announced plans to take a wealthy Japanese entrepreneur and his friends on a trip around the moon.
One thing we’ve discovered is that the more informative material are not sweeping esoteric scientific studies but intimate experiences showing individuals and small communities. However, surprisingly it is sometimes the prominent organizations that provide the more interesting and informational anecdotes. As expected there is also a place for hospitality and travel statistical statements or policy assessment. Articles about traveling to California like Space-tourism biz Virgin Galactic goes public | News, Sports, Jobs assist us to browse the far reaching topics of sustainable travel.
As reported by a number of reports generally visitors want sustainable tourism and want to be responsible visitors. California is a area in which sustainable hospitality and travel is essential.
No matter what you and your group are focused on visiting wilderness, traveling with your family, deciding on a romantic escape, searching for adventure, in search of new food experiences, or really enjoy culture, the Golden State possesses almost endless options. Considered as recommended sightseeing for every body touring California is not complete without the following answers on destinations, attractions, and fun-based activities.
Highlights of Californian legendary and most well-known points of interest and holiday attractions.
From the beaches to the mountains, LA is Southern California’s center for fun.
Disneyland: The original House of Mouse is a must-do if you are traveling with kids. Technically this is in Orange County, but its all one big city anyway.
Hollywood: Take a stroll along Hollywood Boulevard, see the stars on the Hollywood Walk of Fame sidewalk and the footprints at Grauman’s Chinese Theater.
Universal Studios: Get a glimpse at how real films are made, go on the rides, and catch live shows at the theme park.
The city of angels hosts renowned galleries and museums, amazing hotel accommodations, diverse activities and miles of coastline.
Sea World: This popular aquatic theme park offers rides, animal exhibits, and shows.
San Diego Zoo and Wild Animal Park: Top Rated reputations, enjoyable for all age groups.
Old Town San Diego: Quaint district with shops, spectacular Mexican food.