The man often called the modern day Tony Stark, Elon Musk, has confirmed that SpaceX is working on a fleet of satellites that will bring very low cost internet to the masses. According to a report, first published by Gizmodo, SpaceX is working on advanced micro satellites, which can create large formations and operate together. The information had originally been tweeted by Elon Musk himself.
https://twitter.com/elonmusk/status/531994668608024576
Musk’s tweet was met with a question whether the project aims to bring free and unfettered internet to the masses. To this Musk replied, saying that it will be unfettered and very low cost.
https://twitter.com/elonmusk/status/531996243904716800
Further, reports say that Musk plans to launch 700 satellites, which would weigh less than 250 pounds (about 113 kg) and will cost about $1 billion to build. Some reports have also suggested that SpaceX would enter into a partnership with WorldVu Satellites Ltd. for this, but that hasn’t been confirmed yet.
Source: The Verge