Last week, we heard about Elon Musk's new Hyperloop project, as well as his desire to build a network of satellites in space to provide worldwide internet. This project is one of the many developing to establish worldwide internet access via satellite, including projects by Greg Wyler and Google. However, one of the players in this game may be changing its mind and joining up with Musk.
Google and SpaceX are in negotiations about teaming up and building an international network of satellites together, The Information reported. According to individuals who are heavily involved in the process, the deal is supposed to help SpaceX develop the satellites required to build the network that Musk is imagining.
The terms of the deal have not leaked yet, but one source said that Google agreed to value SpaceX for more than $10 billion. According to some, the numbers investors are considering to spend on SpaceX is in the realm of 13 figures.
This isn't Google's first attempt at creating a worldwide internet network. Google Loon was a balloon-based system that would hold satellite-like devices in the stratosphere to transfer information to third-world countries.
Google also announced in June that it planned to invest more than $1 billion in 180 small satellites that would help spread the internet all over the world, according to The Verge. This project was headed up by Wyler. It's uncertain what happened with this project or if the funding was ever used.
