The satellite program under development by SpaceX, the space exploration company founded by Tesla Motors CEO Elon Musk, may soon be getting a big investment from Google.
Technology site
The Information reported Monday that sources close to the deal estimate that Google's outlay will push the valuation of SpaceX beyond $10 billion.
Up until recently, SpaceX has focused on building rockets and other spacecraft. Last week, however, Musk talked about launching hundreds of low-orbit satellites that would circle the earth, beaming down Internet access for those populations who've yet to experience the world wide web.
These plans are similar to ongoing efforts by Google's Project Loon and Facebook founder Mark Zuckerberg's Internet.org to deliver Internet access from the sky — either by satellite, balloon, or even solar-powered drones. By doing so, the technology giants could potentially expand their customer bases by the billions.
However, "One big technical and financial challenge facing the proposed venture is the cost installing ground-based antennas and computer terminals to receive the satellite signals,"
wrote The Wall Street Journal.
"That issue has bedeviled some earlier Internet-via-satellite projects and threatens to complicate Google’s efforts."
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