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Virgin Galactic takes giant leap forward

Virgin Galactic

Executive Grapevine | Executive Grapevine International Ltd

Virgin Galactic takes giant leap forward

Sir Richard Branson’s commercial spaceflight company Virgin Galactic has signed a deal with venture capitalist Chamath Palihapitiya’s investment company, which will make it the first publicly traded space tourism company, reports Forbes.

Social Capital Hedosophia (SCH) is set to invest $800million for a 49% stake in the merged company, which will be split between SCH’s public stakeholders and its founder Palihapitiya.

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