Project Kuiper Initiative: Amazon Will Spend Billions to Build Satellite Internet Service
June 6th, 2019Via: Bloomberg:
Amazon.com Inc. plans to spend billions of dollars building a network of thousands of satellites to provide broadband internet service, Chief Executive Officer Jeff Bezos said.
The Project Kuiper initiative, disclosed earlier this year, is the type of big bet the company needs to keep making as its massive scale renders smaller endeavors less meaningful, Bezos said Thursday at Amazon’s re:MARS conference in Las Vegas.
The project, he said, is “a very good business for Amazon” because it requires a big capital expenditure, Bezos said. “It’s multiple billions of dollars of capex. Amazon is a large enough company now that we need to be doing things that, if they work, can actually move the needle.”
