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Elon Musk wants to raise $500 million to build the world's internet

userAirnet
Added
24.12.2018

The Starlink project involves the creation of an extensive network of satellites, capable of transmitting Internet traffic.

Elon Musk's SpaceX plans to raise $500 million to launch its own networks of space satellites intended for transmission Internet traffic as part of the Starlink project, reports The Wall Street Journal.

According to the publication, SpaceX agreed with the current shareholders and with investment company Baillie Gifford & Co on the acquisition of a new issue of shares at a price of $186 per share, writes RBC.

This company is already an investor in Musk's other company, Tesla. The parties agreed on the terms of financing, but so far the money has not been listed by SpaceX. Sources of the WSJ said that officially about the deal the parties may announce before the end of the year.

The Starlink project involves the creation of an extensive network of satellites, capable of transmitting Internet traffic. To start, SpaceX is planning put 4 thousand devices into low orbit, in the future the network should grow to 11 thousand units.

Now the largest satellite telecommunications network has 65 satellites. So far, however, SpaceX has launched into space only two prototypes - rocket launch with Microsat 2a and Microsat 2b was produced in February 2018.

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