SpaceX CEO Elon Musk is also the CEO of the electric carmaker Tesla. Dario Cantatore/Getty Google is interested in investing in Elon Musk's SpaceX.

The Information's Jessica Lessin reports: "The purpose of a deal, which is still in the works, is to support the development of SpaceX satellites that could beam low-cost internet around the globe to billions who don't have it."

A source close to the alleged deal says Google "has agreed to value SpaceX north of $10 billion."

In 2010 the privately funded space company became the first private company to put a spacecraft in orbit then successfully return it to earth.

SpaceX has made a ton of progress in developing private spaceflight in less than a decade, and its long-term plans are focused mainly around developing reusable rockets and capsules that will ultimately drive down the cost of space travel.





Now Musk tells Bloomberg Businessweek that his "Space internet venture could one day stretch all the way to Mars."

"It will be important for Mars to have a global communications network as well," he says in the interview. "I think this needs to be done, and I don’t see anyone else doing it."

Recently SpaceX launched and landed a reusable rocket, but the rocket crash-landed on the target set up in the ocean.

Here's the Vine from the crash: