Report: Google Might Invest in Branson's Virgin Galactic
It seems that Google's next investment will be out of this world. The search giant will reportedly invest in Virgin Galactic, Sir Richard Branson's space travel brand.
As reported by Sky News, the two companies have been in discussions for months, and have landed on a deal whereby Google will invest $30 million in Virgin Galactic for a 1.5 percent stake in the company.
Sources told Sky News that the deal could put Virgin's value at about $1.6 billion.
Virgin Galactic is the latest in a string of aerospace investments for Google, which is looking at high-flying ways to equip the entire globe with Internet access. Yesterday, it bought Skybox Imaging for $500 million. Skybox specializes in high-quality satellite images, which will bolster Google Maps, and potentially bring Web access to under-served corners of the globe.
In April, Google also bought drone maker Titan Aerospace, which will supposedly be another way to deliver Web access. Google reportedly snatched the company from Facebook, which is also attempting to expand global Internet access via Internet.org.
Virgin Galactic plans to have the first of its space flights later this year, Sky News said. A seat on Branson's space plane costs $250,000 but Galactic said it already accepted more than $80 million in deposits from approximately 700 individuals - including Ashton Kutcher and Justin Bieber.
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