Fidelity And Google Sink One Billion Dollars Into SpaceX

Science / Tech

Elon Musk and the crew at SpaceX just gained some major muscle in the form of Fidelity and Google. For a “just under” ten percent stake in SpaceX the two companies just invested one billion dollars into Elon Musk’s private space exploration program. The combined percentage stake is broken down with Google taking seven and a half percent and Fidelity taking the remaining percent, making it easy to figure out who invested the bulk of the one billion. SpaceX made the announcement Tuesday in a short to the point statement.

Space Exploration Technologies (SpaceX) 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 designs, manufactures, and launches the world’s most advanced rockets and spacecraft. This funding will be used to support continued innovation in the areas of space transport, reusability, and satellite manufacturing.

Google Vice President of Corporate Development, Don Harrison, will also hold a seat on SpaceX’s board and Google released the following statement soon after the announcement.

Space-based applications, like imaging satellites, can help people more easily access important information, so we’re excited to support SpaceX’s growth as it develops new launch technologies.

SpaceX is one of the most successful private space programs to date and seems to be gaining steam now that some big players are investing into Elon Musk’s project. What do you think of Google and Fidelity jumping on board the SpaceX rocket? Let us know in the comments below or on Google+, Facebook and Twitter.

  Source: Mercury News   Via: SpaceX

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