Submission + - Google Nears $1 Billion Investment in SpaceX (wsj.com) 1
Google is close to investing roughly $1 billion in Space Exploration Technologies Corp. to support its nascent efforts to deliver Internet access via satellites, according to a person familiar with the matter.
The investment would value SpaceX, backed by Tesla Motors Inc. Chief Executive Elon Musk , at more than $10 billion according to this person. It isn’t clear what exact stake Google could end up with in the fast-growing space company.
If Google completes the deal, it would be the Internet company’s latest effort to use futuristic technology to spread Internet access to remote regions of the world, alongside high-altitude balloons and solar-powered drones. By extending Web access, Google increases the number of people who can use its services.