Google and Fidelity will be giving SpaceX a $1 billion investment injection

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So our space-based internet is on the way then, is it? Yesterday there were reports that Google was looking at investing in Elon Musk’s company, reportedly because of SpaceX’s plan to create a satellite-based internet service that would orbit the planet at a height of 1,200 kilometers and provide access to people on the ground. SpaceX has since confirmed, on their website, that two new investors will be providing the company with $1 billion in investment.

Falcon 9 and SES-8 liftoff from SpaceX's launch pad at Cape CanaveralThe two companies are Google, as was rumoured, and Fidelity. According to SpaceX, the investment will see the pair owning just below 10% of the company.

SpaceX’s statement reads: “Space Exploration Technologies (SpaceX) has raised a billion dollars in a financing round with two new investors, Google and Fidelity. They join existing investors Founders Fund, Draper Fisher Jurvetson, Valor Equity Partners and Capricorn. Google and Fidelity will collectively own just under 10% of the company.”

Which means that we are probably looking at our space internet (and maybe that Hyperloop at some point as well) headed our way. And then there’s the plan to provide internet access to Mars, once we have people there looking for cat videos. The future is getting more exciting all the time.

Source: SpaceX via Ars Technica

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