by Sandra Erwin — September 13, 2021 BlackSky CEO Brian O'Toole and a group of executives ring the opening bell of the New York Stock Exchange Sept. 13, 2021. Credit: BlackSky BlackSky is projected to earn $40 million this year and is forecasting to more than double that amount next year
WASHINGTON — BlackSky CEO Brian O’Toole on Sept. 13 rang the opening bell of the New York Stock Exchange.
The satellite imagery and geospatial data provider began trading on the NYSE on Friday, a day after closing a merger with a special purpose acquisition company.
The SPAC deal unleashed $283 million in capital that the company plans to spend to hire people, build and launch satellites, and develop more advanced data analytics software, O’Toole told SpaceNews.
An immediate goal is to expand BlackSky’s sales and marketing operations, he said. “We’re seeing a lot of demand in the market, both in the government and the commercial sector so we’re building out a reseller network and sales teams.”