SpaceX

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 and PayPal was sold in 2002 to online auctioneer eBay for US$1.5 billion in stock. Musk funds SpaceX from the fortune gained through these sales. In an interview Musk has stated: "I don?t want to say specific numbers. But I?ve certainly spent more than I expected to spend. On Falcon I alone I?m unlikely to recoup my investment, but with Falcon V and Falcon I, together I think that I probably will."

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