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Alphabet Says Loon Is Not Profitable, Shuts It Down

Alphabet, parent company of Google says its internet connectivity company Loon is not profitable and announced the closure of the firm.

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Why investors are happy to see Google bring Loon back down to Earth

Investors and analysts say they're encouraged by Alphabet's decision to fold Loon, and say it could be a sign of more changes ahead.

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Alphabet Shutters Loon Venture  - Via Satellite -

Alphabet, parent company of Google, is shutting down Loon, its subsidiary dedicated to providing broadband from balloons in the stratosphere. Loon CEO Alastair Westgarth announced the news in a Medium blog post on Jan. 22.  “Loon has been chasing the hardest problem of all in connectivity the last billion users:

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Alphabet closes internet netwok project 'Loon'

Alphabet closes internet netwok project 'Loon'
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Alphabet Is Grounding Loon—but Won't Call It a Failure

Hi, everybody. Do you detect something missing? Like that unease in your gut that everything has gone to hell? Wonder why that is. Oh, and for those of you who are reading this newsletter on WIRED’s website, here’s some news. First, we’re sending this out early because we have a scoop timed to tonight. And now for some bad news: Aside from an occasional episode shared out of the goodness of my heart, Plaintext will hereafter be available only for subscribers. Don’t look shocked—I’ve been warning you about this for a year! The good news is that you can subscribe for an initial offer of five lousy bucks and get Plaintext, unlimited WIRED online access, and a luscious print magazine that, properly cared for, will last longer than you do. Take that, Substack!

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