The Rise and Fall of Virgin Orbit: The Failed Mission That Led to Bankruptcy

One of the space companies that Branson heads is Virgin Orbit. Six years ago, there was no indication that the ambitious company would face major problems. The development of the LauncherOne launch vehicle, designed to deliver small artificial satellites, seemed to bring Branson and Virgin great fame and even greater fortune.

However, within half a year, Virgin Orbit became history as LauncherOne experienced a failed mission and the company went bankrupt. The fact that before the “LauncherOne” mission the company’s value was around four billion dollars, but 15 months later its assets were sold for 40 million dollars, shows the company’s unexpectedly fast collapse.

As it later turned out, the failed mission was not the only reason for the bankruptcy. The company was also unable to make a profit, and new and strong competitors appeared on the market. After the failed project, Branson did not give up and focused on working at Virgin Galactic.

“We knew the crash was coming. Virgin Orbit was in major financial difficulties. What surprised me was how quickly the company sank,” said Laura Forček, director of the consulting company “Astralytical”.

What started the history of “Virgin Orbit” and what was the purpose of the project? How much did Branson invest in it? Why did the company lose everything?

2023-07-08 21:02:38
#failed #reach #space #brilliance #misery #billionaire #Bransons #Virgin #Orbit #company