Satellite Internet: meet the hip new investment for Richard Branson, Elon Musk
It was an interesting week for ideas about the future of the Internet. On Wednesday, satellite industry notable Greg Wyler announced that his company OneWeb, which wants to build a micro-satellite network to bring Internet to all corners of the globe, secured investments from Richard Branson's Virgin Group and Qualcomm. Then in a separate announcement on Friday, Elon Musk said that he would also be devoting his new Seattle office to creating "advanced micro-satellites" to deliver Internet.
OneWeb, formerly WorldVu Satellites Ltd, aims to target rural markets, emerging markets, and in-flight Internet services on airlines, the Wall Street Journal reported. Both Branson and Qualcomm Executive Chairman Paul Jacobs will sit on the company's board, but Wyler did not say how much Virgin and Qualcomm invested in his company.
Wyler said that his company's goal is to create a network of 648 small satellites that would weigh in at around 285 pounds each. The satellites would be put in orbit 750 miles above the Earth and ideally cost about $350,000 each to build using an assembly line approach. Wyler also said that Virgin, which has its own space segment, would be launching the satellites into orbit. “As an airline and mobile operator, Virgin might also be a candidate to resell OneWeb’s service,” the Journal noted. Wyler has said that he projects it to take $1.5 billion to $2 billion to launch the service, and he plans to launch in 2018.
