That seems really cheap for such a crucial piece of infrastructure that has to wrap a quarter of the way around the earth
EDIT: this link http://submarinenetworks.com/systems/trans-pacific/unity informs me that I am completely wrong on the costs. Apparently it is really "only" 300M$ to lay a cable from here to there.
I'm surprised Techcrunch made that big a mistake in their reporting.
[0] http://www.nec.com/en/press/201408/global_20140811_01.html