BEIJING, Jan. 21 -- Space Exploration Technologies (SpaceX), founded by Elon Musk, announced it has raised 1 billion U.S. dollars from Google and Fidelity in the latest round of funding, according to media reports on Wednesday.
The money will be used to continue research in space transport, reusability, and satellite manufacturing.
One of its projects involves creating a satellite network to broaden the reach of Internet access around the world.
Media reviews said there's a vast, untapped potential in connecting the estimated more than 3 billion people who still aren't on the Internet. These are customers who could be shopping, clicking on advertisements and posting on social media.
Google and Fidelity will collectively own just under 10 percent of SpaceX, joining existing investors Draper Fisher Jurvetson, Founders Fund, Valor Equity Partners and Capricorn.
PLA soldiers operating vehicle-mounted guns in drill
Beauties dancing on the rings
Blind carpenter in E China's Jiangxi
Top 10 highest-paid sports teams in the world
In photos: China's WZ-10 armed helicopters
UFO spotted in several places in China
Certificates of land title of Qing Dynasty and Republic of China 
Cute young Taoist priest in Beijing
New film brings Doraemon's life story to China in 3D
China-S.Korea FTA sets positive precedent
Ferry carrying 458 people sinks in Yangtze River
Mecca of Marxism
Bring them homeDay|Week
