Why SpaceX made a $17B bet on the direct-to-cell market, also Ramp says it has hit $1B in annualized revenue

SpaceX just fired off one of the biggest shots yet in the spectrum wars, agreeing to pay $17 billion to take over a massive chunk of wireless airwaves from EchoStar for Starlink’s Direct-to-Cell services.

The deal is the most aggressive signal yet that SpaceX wants to rule the satellite-to-phone market.

Also, Ramp answered any lingering questions as to why investors recently valued the expense management startup at $22.5 billion, just 45 days after a previous funding round valued it at $16 billion: The company says it has achieved $1 billion in annualized revenue.

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