UPDATED 22:35 EDT / JANUARY 19 2015

Elon Musk NEWS

To the moon: Google reported to be in talks to invest in SpaceX

Elon Musk

Google Inc. could be taking its goliath search engine to the moon and beyond, with a report today that it is in talks to invest in Elon Musk’s SpaceX on a valuation of $10 billion.

The Information reported that the deal is still in the works, and is aimed at supporting the development of SpaceX satellites that could beam low-cost Internet around the globe to billions who don’t have it.

The report didn’t mention the size of the round, other that it would be “very large” and based on a valuation of $10 billion. The Wall Street Journal though quotes a source who believes that Google will be investing $1 billion.

Previous investment in the company totals $245.5 million and beyond Musk who seeded the company with $100 million from day one, other investors include Draper Fisher Jurvetson, DFJ Growth and Founders Fund.

Musk announced at a SpaceX event January 16th that he wanted to build a “space internet” that would connect the world, then eventually the Moon and Mars. The proposal is described as being “hugely ambitious” and would see  hundreds of satellites in low earth orbit (LEO,) promising to deliver a speedier Internet service as there would be less distance for signals to travel. The lag in current satellite systems is due to their distance from the Earth; a normal communications satellite can be as much as 22,000 miles above the earth, compared to Musk’s LEO proposal at 750 miles. In theory the SpaceX service would deliver speeds that compete with fiber optic cables, as well as providing speedy internet to those in remote  areas that don’t have access.

Google’s has had a long-standing interest in providing Internet access to those that don’t currently have access via Project Loon, a proposal to float hundreds of high altitude internet enabling balloons globally.

photo credit: jdlasica via photopin cc

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