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Reports: Google considering investment in SpaceX to support satellite system
Posted: Tue, Jan 20, 2015, 7:27 AM ET (1227 GMT)
Google is reportedly considering a billion-dollar investment in SpaceX to support plans revealed recently by Elon Musk to develop a 4000-satellite constellation that would provide broadband Internet access globally. The Silicon Valley business publication The Information reported Monday that Google was close to investing in SpaceX in a deal that would value the space company at more than $10 billion. The Wall Street Journal later reported that Google's investment in SpaceX could be $1 billion. The investment would be used to support development of a satellite system SpaceX is planning to develop in the coming years to provide high-speed Internet access globally. In a speech in Seattle Friday, SpaceX founder Elon Musk said he is proposing the development of a system that will eventually consist of about 4,000 satellites in low Earth orbit to provide Internet access. Both Google and SpaceX previously, and separately, had been in discussions with OneWeb, the venture announced last week to develop a 650-satellite system that would also provide broadband Internet services.
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