Google & Facebook scrap satellite web plans: Report

Google and Facebook had lofty ambitions to connect the world through satellites. But according to tech news site The Information, both tech giants have since scrapped those plans.

The Information reported on Monday (PAYWALL) that Facebook has decided against spending up to $1 billion on a satellite that would provide Internet to undeserved regions in Africa and other continents. The Information cited anonymous sources in its report.

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Both Google and Facebook are looking at ways to bring the web to more and more people, especially as mobile web uses explodes along with smartphone adoption. Google has also scaled back its investment in satellites, the report said.

The two companies have also looked at balloons and drones as other ways to spread wireless internet across undeserved areas.

Read the full report here. (SUBSCRIPTION NEEDED)