O3b Networks is an Internet satellite company that has raised $1.2 billion. This is O3b’s final funding round before they launch their constellation of fiber-quality satellites. This will help developing nations get online.
O3b’s is name refers to “the other three billion” as in the rest of the world that does not have the Internet. O3b’s satellites will be 8,000 kilometers above the Earth, which is four times closer than most other satellites. Google has been one of O3b’s biggest investment partners.
O3b said that they plan to launch their first commercial services in 2013. They currently have about 10 customers around the world in deals that are worth about $500-$600 million.