Loon, the Google-Linked Balloon Project to Provide Cell Service, Will Close

Google parent Alphabet is shutting down Loon, a high-profile subsidiary spun out from its research labs that used high-altitude helium balloons to deliver cellular connectivity from the stratosphere. Nearly a decade after it began the project, Alphabet pulled the plug on Loon because it did not see a way to reduce costs to create a sustainable business. Along with the self-driving car unit Waymo, Loon was one of the most hyped “moonshot” technology projects to emerge from Alphabet’s research lab, X. Loon was starting to run out of money and had turned to Alphabet to keep its business solvent while it sought another investor in the project.