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SpaceX is a $10 billion company thanks to Google

Nicole Lee , @nicole

The rumors are true: SpaceX has just secured a billion dollars' worth of funding from two new investors, Google and Fidelity. As a result, both Google and Fidelity own about 10 percent of the company and SpaceX itself is now worth approximately $10 billion. The reason behind the investment? Well, beyond just funding Elon Musk's private spaceflight missions, Google would also be investing in SpaceX's latest endeavor: internet satellites. The satellites are said to be small, low-cost and plentiful enough (Musk wants to deploy a total of 700) to offer affordable and fiber-like fast internet to everyone on Earth and even Mars. Of course, Google is itself interested in making the internet accessible to remote parts of the globe -- hey, the more people using Google, the better -- so the investment should bring good things for both companies.

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