MOSCOW, January 20 (Sputnik) — Google is about to invest $1 bln in Elon Musk’s private space exploration enterprise SpaceX to bring his goal of global satellite-borne wireless Internet to the world, according to reports.
Google will purchase a stake in SpaceX, whose market valuation exceeds $10 bln. SpaceX is rapidly growing and has many different branches, including rocketry development and manufacturing, satellite tech development, space transportation and flight operations. Google has not yet commented on which sectors it would invest into.
Google’s interest in this particular SpaceX project is obvious. Spreading a free WiFi access to all over the world will provide a major boost to commercial revenues and overall valuation of most Internet, telecom and tech companies, primarily in the US, but also in other developed nations and, to a lesser extent, in the third world.
Neither Google, nor SpaceX have yet confirmed the rumoured deal.
Speculation of the up and coming collaboration between Google and SpaceX first appeared in several tech blogs, including the Information.
Last week Elon Musk said SpaceX is “creating a global communications system that would be larger than anything that has been talked about to date,” and probably this is the dimension Google will be participating in.