Jeff Bezos is letting outside investors into Blue Origin for the first time in 26 years

Jeff Bezos is opening Blue Origin to outside investors for the first time since founding the space company in 2000, as it looks to catch up with Elon Musk's SpaceX, which recently completed a record-breaking $86 billion initial public offering (IPO). According to a memo sent by Blue Origin CEO Dave Limp to employees and reviewed by Business Insider, the company plans to raise $10 billion at a $130 billion pre-money valuation. The move marks a major shift for Blue Origin, which has been funded by Amazon founder Jeff Bezos for more than two decades, and comes as competition in the commercial space industry continues to intensify.Blue Origin seeks $10 billion to support long-term growthIn the memo, Limp told employees that the fundraising reflects investor confidence in the company's future.