PARIS — Social Capital Hedosophia (SCH), the investment vehicle established by former Facebook executive Chamath Palihapitiya, is purchasing up to 49% of Richard Branson’s Virgin Galactic space tourism company on the assumption that Virgin Galactic will generate $600 million in annual revenue and $272.7 million in EBITDA by 2023.
The transaction, announced July 9, gives Virgin Galactic (VG), which has struggled transform is early promise into regular commercial flights with people on board, an enterprise value of $1.5 billion.
Branson and the other . . .
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