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Space Exploration Technologies Corporation (SpaceX) is an El Segundo, California space transportation startup company whose stated goal is to improve the cost and reliability of access to space "ultimately by a factor of ten".

SpaceX has announced development of the Falcon family of mostly reusable two stage, RP-1 kerosene/liquid oxygen launch vehicles, including the Falcon I rocket with one lower stage engine, one upper stage engine and the larger Falcon V rocket with five lower stage engines, two upper stage engines. The maiden launch of the Falcon I is scheduled for September, 2004, with a United States Defense Advanced Research Projects Agency (DARPA) Tacsat payload. The maiden launch of the Falcon V is scheduled for late 2005 with a Bigelow Aerospace Genesis Pathfinder expandable space station module payload.

SpaceX was founded in June, 2002, by Chief Executive Officer Elon Musk. Musk co-founded two previous startup companies: Zip2, a leader in the online news publishing software business; and PayPal, a leader in the online funds transfer business. Zip2 was sold in 1999 to the computer hardware and services company Compaq for US$341 million in cash and stock options [1] and PayPal was sold in 2002 to online auctioneer eBay for US$1.5 billion in cash. Musk funds SpaceX from the fortune gained through these sales.

External Links

SpaceX official website