financetom
Business
financetom
/
Business
/
Alphabet shutting down Loon, which used balloon alternative to cell towers
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Alphabet shutting down Loon, which used balloon alternative to cell towers
Jan 21, 2021 11:40 PM

Google parent Alphabet Inc is shutting down its internet balloon business Loon, which aimed to provide a less expensive alternative to cell towers, saying on Thursday that ”the road to commercial viability has proven much longer and riskier than hoped.”

Share Market Live

NSE

Founded in 2011, Loon aimed to bring connectivity to areas of the world where building cell towers is too expensive or treacherous by using balloons the length of tennis courts to float solar-powered networking gear high above the Earth. But the wireless carriers that Loon saw as buyers of its technology have questioned its technical and political viability.

Loon launched a pilot project in Kenya in 2020, years behind schedule after regulatory delays. The technology previously had proved successful in short projects to provide cell coverage in Peru and Puerto Rico when cell towers were downed by natural disasters.

The company employed 200 people as of 2019. It drew a USD 125 million investment from SoftBank’s HAPSMobile that year.

Alphabet previously shuttered what it calls ”other bets,” or entities separate to Google, such as one working on power-generating kites.

Loon, which announced the shutdown in a blog post, said it may share its technology with carriers, governments or nonprofit groups aiming to still tackle remote connectivity.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Merck's RSV therapy meets main goal of study in infants
Merck's RSV therapy meets main goal of study in infants
Jul 23, 2024
July 23 (Reuters) - Merck ( MRK ) said on Tuesday an antibody-based drug met the main goal of a mid-to-late stage trial testing it as a therapy to protect infants from disease caused by the respiratory syncytial virus. The drug, MK-1654, helped reduce the incidence of lower respiratory infection in infants compared to placebo, and met the safety goals...
CULT Food Science Venture Arm to Participate in Bezos Earth Fund Research Centre at N.C. State
CULT Food Science Venture Arm to Participate in Bezos Earth Fund Research Centre at N.C. State
Jul 23, 2024
07:12 AM EDT, 07/23/2024 (MT Newswires) -- CULT Food Science ( CULTF ) , a lab-grown food company, on Tuesday said its venture arm, Jellatech, has been selected to participate in the Bezos Earth Fund's new US$30 million research center at North Carolina State University. The research center will foster collaboration between academia and industry to create sustainable protein alternatives....
Quest Diagnostics Q2 Adjusted Earnings, Revenue Rises; Raises Full-Year Forecast
Quest Diagnostics Q2 Adjusted Earnings, Revenue Rises; Raises Full-Year Forecast
Jul 23, 2024
07:12 AM EDT, 07/23/2024 (MT Newswires) -- Quest Diagnostics ( DGX ) reported Q2 adjusted diluted earnings Tuesday of $2.35 per share, up from $2.30 a year earlier. Analysts polled by Capital IQ expected $2.33. Revenue for the quarter ended June 30 was $2.40 billion, compared with $2.34 billion a year earlier. Analysts surveyed by Capital IQ expected $2.39 billion....
Vale Base Metals appoints Shaun Usmar as CEO
Vale Base Metals appoints Shaun Usmar as CEO
Jul 23, 2024
SAO PAULO, July 23 (Reuters) - Brazilian miner Vale has picked Shaun Usmar as the chief executive of Vale Base Metals, a unit focused on copper and nickel, the company said on Tuesday. He will take up the role in the fourth quarter of 2024 and be based in Toronto, according to a securities filing. A mining veteran, Usmar founded...
Copyright 2023-2026 - www.financetom.com All Rights Reserved