Tag: OneWeb
OneWeb launches 36 satellites to join its global broadband constellation on orbit
In a return to active launch, constellation satellite operator OneWeb has sent 36 new satellites to join its existing spacecraft on orbit. This is the third large batch of OneWeb satellites to be delivered, after an initial launch of six in 2019, and then a second and third launch of…
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The UK buys a 45 percent stake in broke satellite startup OneWeb
After losing access to the EU's satellite-navigation system Galileo due to Brexit, the UK is hoping to replace it with OneWeb satellites. A government-led consortium has won an auction for the satellite internet company, which filed for Chapter 11 ba… Source
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SoftBank-backed Oyo cuts salaries, furloughs employees
Oyo is furloughing more employees globally and levying a 25% pay cut across the board through July this year as the Indian budget lodging startup looks to reduce its expenses to deal with the coronavirus pandemic that has slashed its revenue by about 60%. Rohit Kapoor, chief executive of Oyo,…
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SoftBank expects $24 billion in losses from Vision Fund, WeWork, and OneWeb investments
The Japanese technology conglomerate SoftBank Group said it would lose a staggering $24 billion on investments made through its Vision Fund and bets on the co-working real estate company, WeWork, and satellite telecommunications company, OneWeb. Ultimately, the company expects the losses to help generate a $7 billion total loss for…
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India’s Oyo furloughs thousands of employees as revenue drops by over 50%
Oyo has placed thousands of employees on furloughs for up to three months in the U.S. and several other markets as the Indian budget lodging firm confronts the coronavirus outbreak that has cut its revenue and demand by over 50%. The startup’s teams in the U.S. are most impacted by…
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OneWeb to file for bankruptcy as effort to securing funding, including from investor Softbank, falls through
Broadband constellation satellite operator OneWeb has officially filed for bankruptcy protection in the U.S., after attempts to secure new funding, including from existing investor SoftBank, fell through, TechCrunch has learned. The Financial Times also reported on the failure of its funding attempt on Friday, based on its own separate sources.…
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