Handout photo of a Loon internet balloon, carrying solar powered mobile networking equipment, over its launch site in Winnemucca, Nevada, USA in June 2017. (Photo: Loon/Reuters)
NEW YORK: Google parent Alphabet Inc has 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 in a blog post on Thursday.
“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.”
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