OAKLAND, Calif. — Google’s parent company 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 said on Thursday that it 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…
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