According to numerous sources including Mashable.com, the search engine giant Google Inc. may soon be sinking $1 billion in Elon Musk’s SpaceX (Space Exploration Technologies Corporation). The purpose of this investment is to fund the production of an inexpensive internet to under-served areas of Earth not yet online.
According to experts at The Wall Street Journal this investment by Google would value Musk’s corporation at over $10 billion. In a recent interview with Bloomberg Businessweek, CEO Musk discussed SpaceX and their plans for the above-mentioned satellite-enabled internet network. He noted that the plan was “hugely ambitious.”
He noted: “The lag in current satellite systems makes applications such as Skype, online gaming, and other cloud-based services tough to use. Musk’s service would, in theory, rival fiber optic cables on land while also making the Internet available to remote and poor regions that don’t have access.”
This program is so new Musk has yet to even give it a name. Nevertheless, he speaks so highly of the plan that he makes it sound as if someday there could even be internet access on the planet Mars, which he believes could be colonized someday.
Several sources are also quick to mention that the deal with Google could very well fall through. There is no guarantee that SpaceX and Google will come to a mutually satisfying agreement. This is, however, in synch with recent reports that Google is considering “major investments in satellites and similar technology in hopes of expanding worldwide internet access.
It also ties in with Google purchasing the drone company Titan Aerospace to assist them in realizing Project Loon. Project Loon, you may recall, is reported to be “a balloon-based system” to make the internet available to more remote areas that are presently a challenge to access.
An ex-employee for an unnamed major internet provider commented that the deal “makes sense. Google has to spend a lot of money to stay in business. And no matter what anyone working for any company tells you, you cannot get the best quality internet service everywhere and some places you’d be hard-pressed to get it at all. More internet access across the planet means more potential income for Google.”
Google May Invest $1 Billion In SpaceX