Google Considers Major $10B Stake In SpaceX For Internet Satellites
If the latest report from The Information is accurate, SpaceX is heading towards a valuation north of $10 billion. Google is reportedly looking to invest heavily into SpaceX and would help to fund the company’s effort to create a “Space Internet” via micro-satellites that would not only bring low-cost Internet to the masses, but also provide a space-based network to enable communications with future colonies on Mars.
Google would of course be the primary investor, but there are a number of additional smaller investors that would also get in on this round of funding for the company.
SpaceX would join other global Internet efforts including OneWeb, which would also rely on a close proximity (to Earth) network of up to 2,400 satellites, and the Google-backed Project Loon, which would use balloons floating at 60,000 to provide 3G-class speeds to earthlings.
SpaceX has helped to advance the current state of private spaceflight and has made five successful trips to the International Space Station (ISS). The company is also looking to lower the costs of space flights through the use of its Falcon 9 reusable rocket.
SpaceX has made a number of successful takeoffs and landings in a more controlled setting with Falcon 9, but came up a little short in its landing attempt on a 300 ft. by 100 ft. floating barge just over a week ago. SpaceX and Boeing have also been awarded a $6.8 billion contract by NASA to launch astronauts to the ISS by the year 2017.