Elon Musk’s Space Exploration Technologies, commonly known as SpaceX, is raising money that would value the company at nearly $10 billion, according to reports.

Breaking the 11-digit valuation line would, for comparison’s sake, make the space travel startup more valuable than Jacobs Engineering Group, with a market capitalization of $6.8 billion, but smaller than Mattel Inc., with $11.9 billion. Snapchat was also reportedly in talks to sell a stake to China’s Alibaba Group that would have valued the mobile messenger company at $10 billion.

SpaceX, which manufactures and launches spacecraft for government and commercial missions, has raised $246 million in private funding to date, according to CrunchBase. Past investors have included Draper Fisher Jurvetson and Rothenberg Ventures.

Since 2002, the Hawthorne company has signed $4 billion in commercial and government contracts. SpaceX has completed 16 missions – ranging from resupplying the International Space Station to fulfilling U.S. government security contracts – with another 36 planned in the coming years.

Staff reporter Melissah Yang can be reached at [email protected]. Follow her on Twitter @MelissahYang for the latest in L.A. tech news.