The Philippines bought its first satellite in 1996. In 2016, the Philippines first micro-satellite, Diwata-1 was launched aboard the US Cygnus spacecraft. The Philippines has a high concentration of cellular phone users. Text messaging is a popular form of communication and, in 2007, the nation sent an average of one billion SMS messages per day. The country has a high level of mobile financial services utilization. The Philippine Long Distance Telephone Company, commonly known as PLDT, is a formerly nationalized telecommunications provider. It is also the largest company in the country. The National Telecommunications Commission is the agency responsible for the supervision, adjudication and control over all telecommunications services throughout the country. There are approximately 417 AM and 1079 FM radio stations and 438 television and 1,551 cable television stations. On March 29, 1994, the country was connected to the Internet via a 64 kbit/s connection from a router serviced by PLDT to a Sprint router in California. Estimates for Internet penetration in the Philippines vary widely ranging from a low of 2.5 million to a high of 24 million people. Social networking and watching videos are among the most frequent Internet activities. The Philippine population is the world's top internet user. The Philippines was ranked 50th in the Global Innovation Index in 2020, it has increased its ranking considerably since 2014, where it was ranked 100th.