The Reason Behind Google's $1 Billion Investment in SpaceX Last Year

By Staff Writer

Feb 15, 2016 07:30 PM EST

Alphabet, Google's parent company made a big investment last year to SpaceX, but there are not many attention paid to Google's investment to space exploration program. Meanwhile, SpaceX set February 24 for its next rocket launch to put communication satellite owned by SES television into orbit.

Google is not the only tech company that put a great interest in space exploration. Amazon.com, Virgin Group, Facebook, and Qualcomm, are among tech companies that have invested in the development of either rockets or satellites.

Google VP for corporate development Don Harrison said, "Space-based applications like imaging satellites can help people more easily access important information, so we're excited to support SpaceX's growth as it develops new launch technologies", as quoted by the Motley Fool.

Alphabet made a $1 billion investment in Series F funding to Space Exploration Technologies Corporation in January 2015. Following the investment, Alphabet have 10% of shares in the space-transportation startup company and Don Harrison also joined the board of SpaceX.

SpaceX is a space transportation company founded by Elon Musk in 2002 in El Segundo, but now operates out of Hawthorne, California. The company was established with a vision to build an inexpensive reusable rocket that would go into space multiple times. In 2006, Elon Musk invested his own $100 million in the seed funding in 2006.

The company then developed its own Falcon orbital launch vehicle and Dragon spacecraft. SpaceX also planned to develop a low-cost, high-performance satellite to be used as a new space-based internet communication system. As an Internet company, Google was interested in this space-based Internet technology.

SpaceX has offices in Washington DC and Hawthorne, as its headquarter. The company also own a test facility in McGregor near Waco, Texas. It also has two launch facilities in Cape Canaveral, Florida, and the Marshall Islands in the Central Pacific.

SpaceX has set another date for another rocket launch on February 24 from Cape Canaveral, carrying SES television service satellite into orbit. The company also scheduled more launch as President and COO Gwynne Shotwell informed Federal Aviation Administration business space meeting a week ago.

"Before the current years over, we ought to be at more than 30 centers for every year," said Gwynne Shotwell as quoted by TechBits.

Previously SpaceX successfully launched and landed its Falcon 9 rocket at Cape Canaveral Air Force Station on Monday, December 21, 2015. However, due to less fuel in the next launch, according to SpaceX won't attempt to land the Falcon 9 booster back on shore like the previous launch, according to Florida Today.

SpaceX set the February 24 for its next scheduled rocket launch, to put SES television communication satellite into orbit. Meanwhile, Google's Alphabet has made a big $1 billion investment last year to help the company developing its space-based internet communication system.

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