Elon Musk project, SpaceX, to be backed by Google


BLOOMBERG: The search-engine giant wants to spend $1 billion to explore new ways of increasing Internet access.

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BLOOMBERG: The search-engine giant wants to spend $1 billion to explore new ways of increasing Internet access.

Mountain View, California-based Google is racing to spread Internet access as it looks for new ways to boost its user base and sell more digital advertising. By teaming up with SpaceX, Google would be seeking to gain an edge over rivals such as Facebook Inc., which is working on projects to deliver Internet service to underserved regions by building drones, satellites and lasers. WorldVu Satellites Ltd., backed by Qualcomm Inc. and Virgin Group, has begun a similar effort.

“Google needs to find additional sources of revenue,” said Greg Sterling, vice president of strategy and insights for Local Search Association, whose members operate in the location-based advertising market. “If they can expand into new markets, obviously they can expand their revenue and keep investors happy.”

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