section_path: History/2017–2018: Leading global commercial launch provider
section_name: 2017–2018: Leading global commercial launch provider
paragraph_text: 2017–2018: Leading global commercial launch provider
  
  In July 2017, the company raised $350 million, which raised its valuation to $21 billion. In 2017, SpaceX achieved a 45% global market share for awarded commercial launch contracts. By March 2018, SpaceX had more than 100 launches on its manifest representing about $12 billion in contract revenue. The contracts included both commercial and government (NASA/DOD) customers. This made SpaceX the leading global commercial launch provider measured by manifested launches.
  
  In 2017, SpaceX formed a subsidiary, The Boring Company, and began work to construct a short test tunnel on and adjacent to the SpaceX headquarters and manufacturing facility, using a small number of SpaceX employees, which was completed in May 2018, and opened to the public in December 2018. During 2018, The Boring Company was spun out into a separate corporate entity with 6% of the equity going to SpaceX, less than 10% to early employees, and the remainder of the equity to Elon Musk.