Satellite startup Planet will be acquiring Google's satellite business, Terra Bella, including its constellation of satellites currently in orbit. The acquisition of this business will allow Planet to complement its current constellation of medium resolution satellites with Terra Bella's high-resolution satellite images, enabling the company to offer more imaging services to its customers.
Terra Bella, formally known as Skybox, was founded in 2009 by Dan Berkenstock, Julian Mann, John Fenwick, and Ching-Yu Hu. By 2012 it had raised $91 million from various venture capitalists and launched its first satellite in 2013. It was acquired by Google in 2014 for $500 million. The financial terms of Planet's acquisition were not disclosed, except to indicate that the acquisition also included a multi-year contract for Planet to provide Google with satellite imaging data. In his blog post, Marshall also indicated that "a number of Terra Bella employees will join Planet," but did not disclose an exact number.
Google is selling its $500 million satellite company to a startup
This is a big move for Planet, which has been rapidly becoming one of the top players in the fast-growing small satellite market since its founding in December 2010. The company has so far raised over $180 million in funding rounds and debt financing.
The company is making more moves to improve its position in the market later this month, when it will launch 88 satellites as a secondary payload on board an Indian PSLV rocket. Those 88 satellites will complement Planet's current constellation of 60 satellites. Along with its 5 RapidEye satellites and 7 Terra Bella satellites, these will enable Planet to take daily images of the entire planet with a variety of different instruments and resolutions.
Skybox boasts that it built and launched the world's smallest high-resolution imaging satellite, and the company provides data analytics and video of Earth taken from afar. In announcing the deal Tuesday, Google said the buyout will help bolster Google Maps by keeping the service accurate with up-to-date images. But the search giant also has more-ambitious plans for the technology. The acquisition will give Google the ability to design and build its own fleet of satellites.
Facebook -- which was also said to be in acquisition talks with Titan Aerospace -- has focused on developing drones and satellites as a means for beaming Internet connectivity to more people. In March, the company announced a new lab dedicated to developing that technology. The effort is in line with the mission of CEO Mark Zuckerberg's Internet.org, which aims to bring the Web to everyone in the world.
Skybox in November launched SkySat-1, a satellite capable of taking 90-second videos at 30 frames per second. The satellite was to be the first of a fleet of 24, launched to capture views of Tokyo; Bangkok; Baltimore; Las Vegas; and Aleppo, Syria. Google hasn't indicated if the rest of the launches will remain on schedule after the startup joins the company. We've asked Skybox for comment and will update this post when we hear back.
Adding to an aerial fleet that includes high-altitude balloons and unmanned drones, Google Inc. said Tuesday that it will buy startup satellite-maker Skybox Imaging Inc. for $500 million, as the tech giant pursues new ways of gathering data and delivering it to Internet users around the world.
Skybox, launched five years ago by three Stanford grad students, is among the first in a wave of new startups that are using advances in computer software and hardware to build smaller, cheaper satellites. While other companies provide high-resolution photos from orbiting satellites, Skybox claims to be the first commercial venture to provide high-resolution video.
Funding: The company has raised $45 million in three rounds of funding. The most recent round was a $25 million Series C led by InterWest Partners, with participation from Presidio Ventures, a Sumitomo Corporation Company, and existing investors Nexus Venture Partners, Trinity Ventures and Mohr Davidow Ventures.
According to Inc. Magazine, successful serial entrepreneurs are characterized by a strong sense of optimism and high pain threshold. These qualities may be necessary due to the high risk and long hours of launching an early-stage company when success is far from certain. They are also characterized by self-reliance, a desire to keep innovating, and an understanding that money isn't everything."}},"@type": "Question","name": "What Are Some Businesses Founded By a Serial Entrepreneur?","acceptedAnswer": "@type": "Answer","text": "Some famous companies launched by serial entrepreneurs have included Alibaba, Virgin Galactic, Tesla, and Apple. In many cases, these are companies where the founders leveraged the success of earlier businesses to help jump-start later ventures.","@type": "Question","name": "Who Is a Famous Serial Entrepreneur?","acceptedAnswer": "@type": "Answer","text": "Arguably the most famous serial entrepreneur was Steve Jobs, the co-founder of Apple who was pushed out in 1985. After leaving Apple, he founded NeXT Computers and became the chairman of Pixar. Following the success of Pixar's Toy Story, Jobs was brought back to Apple in 1997, where he helped revive the struggling company and jumpstarted the smartphone revolution."]}]}] EducationGeneralDictionaryEconomicsCorporate FinanceRoth IRAStocksMutual FundsETFs401(k)Investing/TradingInvesting EssentialsFundamental AnalysisPortfolio ManagementTrading EssentialsTechnical AnalysisRisk ManagementNewsCompany NewsMarkets NewsCryptocurrency NewsPersonal Finance NewsEconomic NewsGovernment NewsSimulatorYour MoneyPersonal FinanceWealth ManagementBudgeting/SavingBankingCredit CardsHome OwnershipRetirement PlanningTaxesInsuranceReviews & RatingsBest Online BrokersBest Savings AccountsBest Home WarrantiesBest Credit CardsBest Personal LoansBest Student LoansBest Life InsuranceBest Auto InsuranceAdvisorsYour PracticePractice ManagementFinancial Advisor CareersInvestopedia 100Wealth ManagementPortfolio ConstructionFinancial PlanningAcademyPopular CoursesInvesting for BeginnersBecome a Day TraderTrading for BeginnersTechnical AnalysisCourses by TopicAll CoursesTrading CoursesInvesting CoursesFinancial Professional CoursesSubmitTable of ContentsExpandTable of ContentsAndreas von Bechtolsheim2. Sir Richard Branson3. Rod Drury4. Janus Friis and Niklas Zennström5. Elon Musk6. Wayne Huizenga7. Josh Kopelman8. Michael Rubin9. The Samwer Brothers10. Oprah WinfreySerial Entrepreneur FAQsThe Bottom LineBusiness LeadersEntrepreneursWorld's Top 10 Serial EntrepreneursByShobhit SethUpdated December 31, 2022Reviewed byAmilcar Chavarria Reviewed byAmilcar ChavarriaFull Bio LinkedIn Amilcar has 10 years of FinTech, blockchain, and crypto startup experience and advises financial institutions, governments, regulators, and startups.
Minister Anand announced that Canada will donate 200 Senator Armoured Personnel Carriers (APC) to Ukraine, at a value of over $90 million. This new package of military assistance responds to a specific Ukrainian request for these vehicles, which are being purchased from Roshel, a Canadian company based in Mississauga, Ontario.
The Prime Minister announced that the additional $500 million for further military aid to Ukraine announced in Budget 2022 has begun to roll out with approximately $50 million commitment to provide high-resolution satellite imagery, an additional 18 drone cameras and ammunition.
The Government of Canada announced the contribution of up to 4500 M72 rocket launchers, and up to 7500 hand grenades, as well as $1 million towards the purchase of commercial satellite high resolution and modern imagery. 2ff7e9595c