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The group, which was founded by 25-year-old Kosta Grammatis, is currently raising money to buy the TerreStar-1, the largest commercial communications satellite ever built. TerreStar, the company that owns the satellite, filed for chapter-11 bankruptcy protection in October 2010, opening the possibility that the satellite may be up for sale.
The group hopes to raise $150,000 to finalize a business plan, investigate the legal and business aspects of submitting a bid for the satellite, and hire engineers to turn the plan into a reality.
Originally posted by harrytuttle
How can they offer it "Free"?
More like every web page you view will have an HTML injection of ads across the top of the page. NO THANKS.
Although the satellites and other assets and technology behind Iridium were estimated to have cost on the order of US$6 billion, the investors bought the firm for about US$25 million