SpaceX received an injection of 1,000 million from Google and Fidelity in a deal that gives the spacecraft manufacturer company worth about 10,000 million.
The capital injection announced Tuesday gives Google Inc. and Fidelity Investments a share of almost 10% by SpaceX, a company of Hawthorne, California, which employs more than 3,000 people.
Although SpaceX revealed no concrete plan, the money could help its founder, Elon Musk, to achieve their hopes of taking people to Mars within 12 years and over time build a city on the planet.
Musk, 43, talked publicly using satellites to provide internet access in remote places on Earth, a mission that Google has also adopted a separate project using high-altitude balloons. As owner of the largest Internet search engine in the world and the largest network of digital advertising, Google is preparing to make more money if more people have access to the Internet.
“Applications based in space, as satellites digitization of content, can help people to access important more easily information, so we are excited to support the growth of SpaceX at a time when developing new technologies launch, “Google said in a statement.
Donald Harrison, who oversees the development team at Google, will join the board of SpaceX as part of the investment in the company.
SpaceX (Space Exploration Technologies) has raised money before Founders Fund, Draper Fisher Jurvetson, Valor Equity Partners and Capricorn since its inception in 2002. The Founders Fund was started by Peter Thiel, who partnered with Musk in the late 1990s to create the online payment service PayPal.
Musk is also director of the electric car manufacturer Tesla Motors and has spearheaded news for his vision to create transportation system or high speed “shoot” passengers through elevated ducts San Francisco to Los Angeles.
Ships SpaceX have been used to transport cargo to the International Space Station.
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