SpaceX, the space exploration startup founded by PayPal founder Elon Musk, has received $ 1 billion in fresh funding from investors – this includes search engine giant Google and Fidelity. Going forward, Musk plans to utilize this money to launch a network of hundreds of micro-satellites that would connect not only the people on earth to the internet but also people on Mars – as and when people get their.
The total cost of this audacious project is estimated to somewhere around $10 million. Google, on the other hand, will use this opportunity to expand its internet access across the world. In exchange of their investment, both Google and Fidelity would get an ownership stake, shy of 10 percent in Space X.
“Our focus is on creating a global communications system that would be larger than anything that has been talked about to date,” Musk told one of the leading business magazines.
This is a deal that Google and other tech giants have been dreaming of since long. In fact, both Google and social networking giant Facebook have been trying to get internet connectivity to people living in the remote regions by experimenting with drones, satellites and balloons.
This ambitious initiative will no doubt benefit people living in sparsely populated areas, but at the same time help expand the companies already enormous reach.
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