Loon and Wing are joining the ranks of other X moonshot graduates. Alphabet said Wednesday that the two projects - one that uses balloons for Internet delivery and the other for drone delivery - have graduated to become full companies under Alphabet’s Other Bets category. Other recent graduates include Waymo, Chronicle, and Verily.
It doesn’t sound like the graduation will affect how the companies develop products or what they are working on. But it does signal that Alphabet is serious about these businesses going forward as full-fledged businesses (and take on companies like Facebook and Amazon that are also investing in some of the areas). It also frees Alphabet up to focus its moonshot bets on other areas, like robotics, free-space optics, and Glass, the company said.