Facebook buying Drone Maker Titan Aerospace for $60 Million

Facebook is going to buy Titan Aerospace, makers of near-orbital, solar-powered drones which can fly for five years without needing to land. According to a source with access to information about the deal, the price for this  is $60 million. From our understanding the Facebook is trying to cover the parts of the world which are without Internet, beginning from Africa.

Titan is currently led by CEO Vern Raburn, previously the founder and CEO of Eclipse Aviation. The company was founded in 2012 by Max Yaney (CTO), in order to produce what it refers to as “atmosats,” new types of UAVs that do the work of near-Earth satellites at a fraction of the cost.

Facebook will be spending $60 Million on Internet.org project to provide Internet to the world. Previously, they bought Whatsapp for $19 Billion to capture the rapidly growing market of messagingj. WhatsApp would share the same broader goal of making the Internet more accessible still we aren’t confirmed yet, Its just the Facebook Plan.

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