Alphabet INC which is the parent company of Google, decided shutting down “Loon” project, whose goal was to establish a wireless communications network for the Internet with the help of balloons in the “stratosphere”. The executive director of the “Loon” project, Alastair Westgart, explained this decision by saying that the company “failed to find a sufficient number of companies and investors to contribute to the implementation of this project. In addition, we were not able to reduce costs to the level required for a long-term, stable business.” “The innovation of radical technologies in itself is risky,” he said.
It should be noted that the company successfully tested the “Loon” project last year, and it had launched 35 balloons in Kenya, where it worked in mobile phone networks. Each balloon covered an area of 80 square kilometers.