'Hyperloop One' Is Now 'Virgin Hyperloop One' After an Investment From Richard Branson
Building something from scratch isn't the only way to get your name on the building. You can also take the "rich alumnus" approach and write a really big check, which is exactly what Virgin Group did for the Hyperloop One and their high-speed train project.
Virgin Group announced its investment in the transportation startup this week via a blog post by founder Richard Branson. Now rebranded as Virgin Hyperloop One, the company will continue with its efforts to develop and make commercial a network of high-speed passenger pods.
Only, now it will have the support of a multi-billion dollar company which already has its feet in everything from travel and hospitality, to media and aerospace. The size of the investment has not been disclosed, but it's safe to assume that there were some commas involved in whatever number they agreed on.
Branson also praised the Virgin Hyperloop One team, including Executive Chairman Shervin Pishevar and President of Engineering Josh Giegel, both of whom previously worked for him at Virgin Galactic (which is unsurprising since, again, Branson's companies are already everywhere).
New name, same great taste? Time will tell if Virgin Group's investment comes with more strings than Branson is letting on, but either way it's a good look for the company formerly known as Hyperloop One.