Google and Fidelity Invest $1 Billion in SpaceX
January 20th, 2015Via: cnet:
Google is cementing its interest in outer space.
The company, along with investment firm Fidelity, is pumping $1 billion into SpaceX, the rocket company co-founded by billionaire Elon Musk.
The deal, confirmed on Tuesday by SpaceX, is just the latest bet Google has made on space technologies. The company has recently made investments in satellites, and was rumored to be considering a stake in the space tourism venture Virgin Galactic. The investment, which was reported earlier by The Information, would apparently value SpaceX at $10 billion and give Google and Fidelity close to a 10 percent stake in the company.
It’s still unclear what could come of the investment, but some have speculated the deal could bolster Google’s and SpaceX’s plans for providing low-cost Internet access to under-served regions of the globe.
