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Thu, Jan 22, 2015

Google, Fidelity Make $1 Billion Investment In SpaceX

Brings Value Of The Company To Over $10 Billion

SpaceX has confirmed that it has received substantial investments from two companies in its most recent financing round.

In a notice posted on its website, SpaceX reported that it has raised a billion dollars in a financing round with two new investors, Google and Fidelity. They join existing investors Founders Fund, Draper Fisher Jurvetson, Valor Equity Partners and Capricorn. Google and Fidelity will collectively own just under 10% of the company.

SpaceX said in the notice that the funding will be used to support continued innovation in the areas of space transport, reusability, and satellite manufacturing.

It has been widely reported that SpaceX is looking to create a constellation of small satellites that would deliver high-speed Internet service to all areas of the world, and Google has been interested in investing in such a scheme for several years.

With the investment, the value of SpaceX is estimated to be about $10 billion.

FMI: www.spacex.com

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