Richard Branson's Virgin Orbit May Bring $1 Billion Valuation

Virgin Orbit, a part of Sir Richard Branson's Virgin Group, is looking to raise between $150 million and $200 million in the near future, according to The Wall Street Journal. This would give the private company a valuation as high as $1 billion. 

The satellite launch company is on a different mission than publicly traded Virgin Galactic (NYSE: SPCE), which is also part of Branson's Virgin Group conglomerate. Virgin Orbit plans to provide clients, including NASA, with a flying launch platform for small satellites. Virgin Galactic is looking to make space tourism available to customers. 

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Source Fool.com