Mark Zuckerberg, the chief executive officer of Facebook Inc (NASDAQ:FB) said the social network giant is willing to spend billions of dollars to achieve its goal to provide internet access to every person worldwide.
“What we really care about is connecting everyone in the world. Even if it means that Facebook has to spend billions of dollars over the next decade making this happen,” said Zuckerberg during an event hosted by billionaire Carlos Slim in Mexico City.
According to Zuckerberg, the goal of Facebook Inc. (NASDAQ:FB) to connect everyone through the internet is beneficial not only of the company but for the world over the long-term.
“I believe that over the long term it’s gonna be a good thing for us and for the world. When everyone is on the Internet, all of our businesses and economies will be better,” said Zuckerberg.
Last year, Facebook Inc (NASDAQ:FB) established the internet.org initiative with the primary objective of connecting billions of people in regions such as Africa and Asia that have no internet access yet. At the time, the social network giant said it would continue to partner with telecommunication companies in different countries to offer internet access at a more affordable price.
Earlier this year, Zuckerberg launched the company’s Connectivity Lab that will focus on delivering internet access using drones, lasers, and satellites. The lab is part of its internet.org initiative.
Facebook Inc (NASDAQ:FB) also bought Ascenta, a company based in United Kingdom whose founders developed that first version of Zypher, the world’s longest solar-powered drone worldwide. The social network giant absorbed Ascenta’s team to work with its team to work on connectivity aircraft.
Facebook Inc. (NASDAQ:FB) is a member of the Alliance for Affordable Internet (A4AI) along with other tech giants including Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL), Intel Corporation (NASDAQ:INTC), Microsoft Corporation (NASDAQ:MSFT) and Yahoo! Inc. (NASDAQ:YHOO).
The A4AI aims to lower the cost of internet access to the target price (below 5% of monthly income worldwide) set by UN Broadband Commission.