Post subject: What Has No Revenue, But a $700 Million Valuation? Posted: 23.09.2017 20:14
What Has No Revenue, But a $700 Million Valuation? Yes, It's Hyperloop
By Kevin J. Ryan @wheresKR
[...] according to Recode, the company's valuation is now a whopping $700 million. (A representative for Hyperloop One wouldn't confirm or deny that figure to Inc.) That's an extremely high number for a company that is still yet to prove its technology works at full scale. The company is not yet earning revenue, nor has it received approval from any government to begin constructing a passenger rail.
Still, Hyperloop One has probably made the most strides of any company looking to build the low pressure, high speed tubular system first proposed by Elon Musk in 2013.
Internal Hyperloop One documents revealed last year that each mile of track in the U.S. could cost upwards of $100 million. All of the proposed routes--Hyperloop One is currently weighing 10 of them--are at least 200 miles long, which would mean a minimum cost of roughly $20 billion. For comparison, that's about the cost (in 2017 dollars) of the Big Dig, the 15-year project to reroute Boston's highway systems that concluded in 2006 and was likely the costliest transportation project ever; and it's several billion more than the projected total cost of New York's infamous (and still ongoing) Second Avenue Subway project.
Investors in Hyperloop One's most recent round included Caspian VC Partners and OurCrowd.com. The company also has investments from Sherpa Capital, Khosla Ventures, and GE Ventures.
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