The goal of the deal, first reported by The Information, is to support the creation of a satellite-based Internet system that would bring Internet access to rural areas not yet online.

BREAKING: Google May Invest $1 Billion In SpaceX

By  //  January 19, 2015

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will support creation of satellite-based Internet system that would bring access to rural areas

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MASHABLE.COM – Google could soon make a $1 billion investment in SpaceX, according to multiple reports.

spacex-580-15

Google could soon make a $1 billion investment in SpaceX, according to multiple reports. (SpaceX image)

The goal of the deal, first reported by The Information, is to support the creation of a satellite-based Internet system that would bring Internet access to rural areas not yet online.

Google’s investment would value Elon Musk’s company at more than $10 billion, the The Wall Street Journal and The Information report.

Musk spoke about SpaceX’s plans for the satellite-enabled Internet system last week in an interview with Bloomberg Businessweek, which described the program as “hugely ambitious.”

“Hundreds of satellites would orbit about 750 miles above earth, much closer than traditional communications satellites in geosynchronous orbit at altitudes of up to 22,000 miles,” said Musk.

Elon Musk

Elon Musk

“The lower satellites would make for a speedier Internet service, with less distance for electromagnetic signals to travel. The lag in current satellite systems makes applications such as Skype, online gaming, and other cloud-based services tough to use. Musk’s service would, in theory, rival fiber optic cables on land while also making the Internet available to remote and poor regions that don’t have access.”

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BELOW VIDEO: After five successful missions to the International Space Station, including four official resupply missions for NASA, SpaceX’s Falcon 9 rocket and Dragon spacecraft lifted off Saturday, January 10 from Launch Complex 40 at the Cape Canaveral Air Force Station, Florida, for their fifth official Commercial Resupply (CRS) mission to the orbiting lab. Dragon is the only operational spacecraft capable of returning a significant amount of supplies back to Earth, including experiments.

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