Now is your first chance to own shares in the latest generation of space companies.
Anderson said Palihapitiya's investment in Virgin Galactic was unsurprising, because "Social Capital's been investing in space for awhile." Another of Palihapitiya's investments isPalihapitiya touted Virgin Galactic's model on Tuesday, saying that he was amazed that it's "a business that has software-like margins." The company is trying to tap a new, potentially lucrative market for space tourism.
Virgin Galactic's public offering may put them at the front of the pack among private space companies but it's not without risk. Anderson warned that this could mean it's "too early" for Virgin Galactic to go public, especially with the company yet to begin regularly flying customers. "They're going from an extremely tight cap table – one extremely wealthy owner and a sovereign wealth fund – to public market ownership," Anderson said. "There's a lot of potential upside here but a lot less room for error."
Additionally, Virgin Galactic has had years of delays in getting to the edge of space, as well as two deadly incidents. Three employees of Scaled Composites, which built the previous version of Virgin Galactic spacecraft, were killed in an July 2007 accident and a pilot was killed during an October 2014 test flight.
"Human spaceflight is incredibly challenging," Anderson noted. "A typical argument against an IPO too early is that you lose the luxury of screwing up in private; However, VG is already squarely in the public eye and their development program has been out for everyone to see."
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