Google and Fidelity to invest $1 billion into SpaceX
Posted: Wed, Jan 21, 2015, 7:18 AM ET (1218 GMT)
SpaceX announced Tuesday that it has raised $1 billion from Internet search giant Google and financial firm Fidelity, funds that will likely support initial development of a satellite communications system. SpaceX confirmed earlier rumors of a major investment into the company by Google in a statement Tuesday, adding that Fidelity was joining the round as well. Google and Fidelity will combined own just under 10 percent of SpaceX, valuing the company at more than $10 billion. SpaceX said in its statement that it will use the proceeds to "support continued innovation in the areas of space transport, reusability, and satellite manufacturing." Many observers believe the investment is most closely tied to plans that SpaceX CEO Elon Musk announced last week to develop a 4,000-satellite constellation to provide global broadband Internet access.
SpaceX announced Tuesday that it has raised $1 billion from Internet search giant Google and financial firm Fidelity, funds that will likely support initial development of a satellite communications system. SpaceX confirmed earlier rumors of a major investment into the company by Google in a statement Tuesday, adding that Fidelity was joining the round as well. Google and Fidelity will combined own just under 10 percent of SpaceX, valuing the company at more than $10 billion. SpaceX said in its statement that it will use the proceeds to "support continued innovation in the areas of space transport, reusability, and satellite manufacturing." Many observers believe the investment is most closely tied to plans that SpaceX CEO Elon Musk announced last week to develop a 4,000-satellite constellation to provide global broadband Internet access.
Related Links:
| <<previous article | next article>> |
|
news in brief
|
|
NASA releases report on Starliner crewed test flight problems
Posted: Sun, Feb 22 11:45 AM ET (1645 GMT) |
|
news links
|
|
Sunday, February 22
Exolaunch Successfully Integrates Five Satellites with 'Spectrum' launch vehicle Ahead of Second Isar Aerospace Launch, A Landmark Mission for European and German Launch Sovereignty
Exolaunch — 5:51 pm ET (2251 GMT) Sateliot and PLD Space sign first commercial contract for a dedicated launch of two Tritó satellites with MIURA 5
PLD Space — 5:49 pm ET (2249 GMT) What cold-water geysers on Earth reveal about the habitability of ocean worlds
PSI — 5:48 pm ET (2248 GMT) AAC Clyde Space ships VIREON satellites for launch
AAC Clyde Space — 5:48 pm ET (2248 GMT) Crosshill Joins as Space ISAC Member
Space ISAC — 5:43 pm ET (2243 GMT) |
