Amazon & SpaceX Competitor OneWeb is Reportedly Contemplating Bankruptcy





Recently Amazon and SpaceX have had all the news coverage as they work to build a high-speed internet using low earth orbit satellites, yet they aren’t the only ones. OneWeb is also working on launching a network of satellites to offer high-speed internet from space. Now Bloomberg is reporting that OneWeb is looking at a possible bankruptcy.

OneWeb, backed by SoftBank, is now just a few days away from launching its first set of satellites. But the company is $3.3 billion in debt and seems to be very concerned about the growing amount of competition from other services like Amazon and SpaceX.

OneWeb is not done though as SoftBank has recently ramped up its efforts in Washington to get approval to provide internet access from more of its satellites.

The main issue for OneWeb is that SpaceX already has over 300 satellites in space and Amazon is dumping money into its internet service. The question now is if OneWeb can beat Amazon to market and hopefully stay close enough to SpaceX to be able to remain competitive. For now, OneWeb is looking at all of their options to keep it in the running.

Did you know we have a YouTube Channel? Every week we have a live Cord Cutting Q&A, and weekly Cord Cutting recap shows exclusively on our YouTube Channel!

Please follow us on Facebook and Twitter for more news, tips, and reviews. Need cord cutting tech support? Join our Cord Cutting Tech Support Facebook Group for help.

Disclaimer: To address the growing use of ad blockers we now use affiliate links to sites like, streaming services, and others. Affiliate links help sites like Cord Cutters News, stay open. Affiliate links cost you nothing but help me support my family. We do not allow paid reviews on this site. As an Amazon Associate I earn from qualifying purchases.

Subscribe to Our Newsletter

* indicates required

Please select all the ways you would like to hear from :

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp’s privacy practices here.