Google’s effort to make internet better ,invests $ 1 billion in Elon Musk SpaceX.
Google and Fidelity have invested $1 billion in the SpaceX, a Hawthorne, California company to support the innovation in the areas of space transport, reusability and satellite manufacturing. Both the companies will together own slightly less than 10 percent of the SpaceX.
A source close to the deal says Google “has agreed to fund $10 billion to SpaceX for the project.” SpaceX is a privately funded space company, headed up by Tesla CEO Elon Musk.
In 2010 it became the first private company to put a spacecraft in orbit then successfully return it to Earth. Recently SpaceX launched and landed a reusable rocket, but the rocket crash-landed on the target set up in the ocean. SpaceX has made a tons of progress in developing private spaceflight in less than a decade, and its long-term plans are mainly focused around developing reusable rockets and capsules that will ultimately drive down the cost of space travel.
“Space-based applications, like imaging satellites, can help people more easily access important information, so we’re excited to support SpaceX’s growth as it develops new launch technologies.” As said by a Google spokesperson in a post.
The Vine Video of the SpaceX Crash
According to the latest information, Google is investing in SpaceX to support its plan to “deliver hundreds or thousands of micro satellites into a low (750 mile) orbit around the globe to serve Internet to rural and developing areas of the world.”
Commenting on Google’s investment, Musk noted that the new office will be dedicated to the latest satellite service. He also said that the satellites will beam the Internet to the billions of people in the world who do not have access. He said SpaceX would use the project to help fund a colony on Mars, and told Bloomberg Businessweek, the satellites could also be used eventually beam to Internet access to his proposed Martian colonies.
Further SpaceX’s plans for global Internet service to work on spectrum rights by relying on optical lasers. The company has estimated a total cost of $10 billion on the project and will take minimum 5 years to complete it.
While on the other hand Google is experimenting new ways of making the Internet better and available in more places. Google has already been experimenting to lay down internet network into rural and underserved areas via giant balloons in which it has met with decent success.