Google Fiber plans five-state expansion, biggest in years - Reuters
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Google Fiber (NASDAQ:GOOG) (NASDAQ:GOOGL) is planning its biggest expansion in years, with a five-state push into new territory, Reuters reports.
The high-speed Internet unit will move into cities in Arizona, Colorado, Idaho, Nebraska and Nevada in the coming years, Reuters says. That marks the first big ramp-up since Fiber spun out of core Google operations into its own unit.
The move would bring Google Fiber's footprint to 22 metro areas, from 17 today.
After four years of sharpening its approach, Google Fiber is ready to "add a little bit more build velocity," unit CEO Dinni Jain told Reuters. Last year it did more building than the previous few years combined.
That may mean Google Fiber needs to follow in the footsteps of other units at Alphabet (GOOG) (GOOGL) and raise outside funding, Reuters notes. Alphabet needs to "build businesses that will be successful in and of their own right," Jain said, adding Fiber can't rely on "a rich parent's wallet."
Alphabet's "Other Bets" segment still represents heavy investment and just a small part of overall revenues: The segment brought in $193M in revenues in the most recent quarterly report, out of $69.7B total company revenues, and its operating loss of $1.7B was a drag on companywide operating income of $19.45B.