The giant Google is quick to spread the Internet as it seeks new ways to increase their user base and sell more digital advertising.
Space Exploration Technologies Corp. wants to use satellites to bring the online service to every corner of the world.
( Bloomberg) .- Google Inc. means that everyone is connected to the Internet, and an investment in SpaceX, Elon Musk, could help to advance that cause.
Google is about to invest in Space Exploration Technologies Corp., which wants to use satellites to bring the online service to all corners of the world in a financing round that values equity firm closed at more than US $ 10,000 million, reported Monday Web site for information on The Information Technology.
The provider of Web searches approaches an investment of about US $ 1,000 million, according to The Wall Street Journal. Representatives of Google and SpaceX refused to comment on reports that mentioned to people familiar with the negotiations.
Google, based in Mountain View, California, is quick to spread the Internet as it seeks new ways to increase their user base and sell more digital advertising.
Teamed with SpaceX, Google would try to gain an advantage over rivals such as Facebook Inc., which is working on projects to provide Internet service to underserved regions building drones, satellites and lasers. WorldVu Satellites Ltd., funded by Qualcomm Inc. and Virgin Group, has launched a similar initiative.
“Google needs to find more sources of revenue,” said Greg Sterling, vice president of strategy and perceptions in Local Search Association, whose members operate in the advertising market based on location. “If they can expand into new markets obviously can expand their revenues and keep investors happy.”
In an interview with Bloomberg News on January 12, Musk spoke of the need to launch smaller satellites and advanced with greater frequency, and said SpaceX planned to “spend at least a billion, maybe $ 2,000 million” in satellite activities.
Balloons ‘Loon’
Google already revealed the Loon Project, a network of balloons designed to connect to the Web world in areas difficult to reach. The Internet company also said the acquisition last year on the satellite startup company Skybox Imaging Inc. could eventually contribute to improving access to Internet.
Musk has earned a reputation for innovative and successful entrepreneur , first as co-founder of digital payment provider PayPal and most recently as head of Tesla Motors Inc. SpaceX, based in Hawthorne, California, is attracting new investors, Musk said this month.
“There is a couple of new investors who -due to their enhanced disclosure requirements will have to be made public. I think by the end of this month, “Musk said in the interview of January 12.
The goal of SpaceX is to advance the technology of rockets and spacecraft, and finally create a city on Mars. Musk said he has no immediate plans to conduct an IPO by SpaceX, considering the long time involves colonization of Mars and pressure faced by many listed companies.
“If Google promises money SpaceX will probably be a major investor and a real partner, “said Marco Caceres, director of space studies at consultancy Teal Group. “Google provides applications for satellites and SpaceX has the technical expertise and the ability to launch.”
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