Google makes a major investment in SpaceX

Dear readers and followers,

last year, we told you, that Web companies such as Google and Facebook from the Silicon Valley ramp up efforts to connect the world to their services, they are increasingly looking to the skies and higher: to the space.

Today, Google is close to investing in rocket maker SpaceX, according to several people familiar with the talks, creating a formidable alliance in Silicon Valley’s accelerating Internet space race.

This way, is not news, At Google, several signs point to satellites. Actually, Previously Google bought drone-maker Titan Aerospace last year and now it's in talks to buy Skybox Imaging, a startup that creates high-resolution satellite images, for $1 billion. 

Moreover, in 2014, Google hired Brian Holz, who was chief technology officer at O3b Networks, which has launched special satellites to try to broadcast signals that would power new Internet service in developing countries around the world. Google had previously made a financial investment in O3b and one of its employees sits on O3b’s board. The startup’s recently-launched satellites faced technical setbacks this year.

Google also recently hired Dave Bettinger, who had spent 18 years at satellite firm VT iDirect, which supplies high speed broadband and other communications to military services and the oil and gas industry, according to people at Google. VT iDirect also suffered some product delays recently.

The purpose of the today deal, which is still in the works, is to support the development of SpaceX satellites that could beam low-cost Internet around the globe to billions who don’t have it.

The price and terms Google and SpaceX are discussing couldn’t be learned although one person familiar with them said Google has agreed to value SpaceX north of $10 billion and that the size of the total round, which includes other investors, is very large.

SpaceX’s investors include Founders Fund, Draper Fisher Jurvetson and Valor Equity Partners. The company, which has been developing rockets to lower the cost of space travel, hasn’t raised a primary round of funding in several years.

Source: Forbes

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