Search Giant Said to Be Close to Investing $1B in SpaceX to Spread Internet

Google is reportedly close to investing about $1 billion in Space Exploration Technologies, better known as SpaceX, which is backed by Tesla chief executive Elon Musk. Google, which has reportedly agreed to value SpaceX at more than $10 billion, is said to be interested in the investment as part of its efforts to spread Internet access to remote regions of the world. Its funding would go toward supporting the development of SpaceX satellites that are able to transmit the Internet to various areas that don't currently have it at low costs, according to a report by The Information. Just last week, Musk further detailed a concept for SpaceX to launch satellites into a low orbit with the purpose of delivering Internet access. Subscribe to TheStreetTV on YouTube: http://t.st/TheStreetTV For more content from TheStreet visit: http://thestreet.com Check out all our videos: http://youtube.com/user/TheStreetTV Follow TheStreet on Twitter: http://twitter.com/thestreet Like TheStreet on Facebook: http://facebook.com/TheStreet Follow TheStreet on LinkedIn: http://linkedin.com/company/theStreet Follow TheStreet on Google+: http://plus.google.com/+TheStreet