Alphabet Shuts Loon Project to Beam Internet From High-Altitude Balloons
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Google parent Alphabet Inc. shut down Loon, an audacious project to beam internet service from high-altitude balloons, after the unit failed to develop a viable business model.
“While we’ve found a number of willing partners along the way, we haven’t found a way to get the costs low enough to build a long-term, sustainable business,” Loon Chief Executive Officer Alastair Westgarth wrote Thursday in a blog post. “Developing radical new technology is inherently risky, but that doesn’t make breaking this news any easier. Today, I’m sad to share that Loon will be winding down.”