Softbank has begun to honor Trump's commitment: first invest in satellite startup OneWeb 10 billion
Sun Zhengyi has begun to honor the $50 billion investment commitment he has made to Trump.
On December 19th, US time, SoftBank Group Corp. announced that it will invest USD 1 billion in satellite Internet startup OneWeb, hoping to target the development of global satellite communication technology, thereby investing in further expanding its business in the overseas communications market. lay the foundation.
According to The Wall Street Journal, OneWeb is a startup that is committed to providing the Internet to remote and developing countries in the world with hundreds of satellites. Its goal is to make existing networks cheaper and connect to networks without a network. The company has a goal to make all schools in the United States cover the Internet by 2022.
The company is currently valued at $2.5 billion. In addition to the newly added Softbank, OneWeb's original investors will also invest $200 million in this round of financing. This new funding will ensure that OneWeb has sufficient funds to build and launch 648 low-Earth orbit small satellites by 2020 to form a global high-speed communications network. Applications include urban in-vehicle networks, homes in remote locations, and schools in developing countries.
The idea sounds similar to Facebook's previous internet.org project, but OneWeb uses a lot of small satellites instead of Facebook's high-cost large communications satellites. This not only enables an efficient pipeline manufacturing process, reduces the cost of a single satellite, but also reduces the risk of damage caused by a single satellite.
OneWeb's rivals include Boeing and Elon Musk's SpaceX. SpaceX has announced its initial plan to launch 4,000 satellites and has applied to the US government.
However, it is estimated that 648 small satellites operate in the air about 1200 km from the ground, providing global high-speed network coverage without dead ends. The total planned cost is about 2 billion to 3 billion US dollars. Compared to Musk's $10 billion satellite program, OneWeb's solution is more realistic.
OneWeb founder Greg Wyler said that Softbank will become the largest shareholder of the emerging company with about 40% of the shares. But Softbank is by no means the first investor to look at the company's potential. OneWeb's original investment team is a big hit – there are famous British billionaires Richard Branson, Qualcomm, Coca-Cola And Airbus and so on.
OneWeb has previously announced that it is building a large plant with Airbus in Florida, USA, to mass produce satellites in a highly automated manner, that is, to bring satellites to a fully automated assembly line, manufacturing like medical equipment and aircraft parts. Satellite, the goal is to reduce the price of each satellite to $1 million.
Wyler said that if the program is successfully implemented, OneWeb expects to design a new generation of satellites that are hundreds of times more powerful than the most advanced models available, and will receive approximately 100 million subscribers worldwide by 2025.
Wyler also wrote on the company's website: "With this new round of financing and the rapid technological advances we have made in the past year, we have to announce a more ambitious goal: to fully bridge the global 'digital' by 2027. The gap '".
US technology media TechCrunch reported that Wyler said that OneWeb will launch 10 test satellites in early 2018 and then launch 72 geostationary satellites in six months. With all the best, OneWeb's low-latency broadband service can be officially launched in 2019.
For Softbank, OneWeb's business can be coordinated with Softbank's existing business. “OneWeb is our key strategic investment in connecting existing investment companies,†said Softbank CEO Sun Zhengyi in an interview.
At the same time, this is Sun Zheng’s first investment in the United States after Trump’s promise to US President-elect Trump will invest $50 billion in the United States.
On December 7, Sun Zhengyi met with the US President-elect and finally promised to invest $50 billion in the US within the next four years and create 50,000 new jobs. Also pulled up Foxconn CEO Guo Taiming jointly signed an "investment commitment" submitted to Trump.
Softbank's investment will come from the $100 billion investment fund established by Softbank and Saudi Arabia's sovereign wealth funds and other potential partners, the SoftBank Vision Fund, which invests in technology.
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