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Updated Jan. 21, 2015: An exciting Google-SpaceX partnership was formed Tuesday evening. Together, the visionary companies will attempt to bring the remaining two-thirds of the globe online…
You see, more than 60% of the world's population is still offline, according to a September 2014 study by McKinsey & Co.
It started Project Loon in 2013 to launch high-altitude helium balloons that beam down Wi-Fi to hard-to-reach locations. And last year, it acquired dronemaker Titan Aerospace for $60 million. The companies are now testing solar-powered drones to increase Internet access.
After a day of rumors, the Internet giant and Fidelity confirmed a $1 billion investment in Elon Musk's SpaceX around 5 p.m. ET Tuesday. A source close to the deal said Google valued SpaceX north of $10 billion.