SpaceX launches first commercially funded rocket to orbit

Awesome. [Link]

For the privately-developed SpaceX rocket project, apparently the fourth time is the charm. After three dismal failures, the fourth launch attempt resulted in the two-stage Falcon 1 streaking into orbit last night after a flawless liftoff at 7:15pm EDT. Even though this orbital insertion occurs 45 years after the first time NASA did it, it's a first for a privately-funded commercial venture.

What's next? SpaceX plans to perfect the design of the vehicle, allowing for re-use of the first stage after a Pacific splashdown, and then launch 1,256-pound payloads atop the 68-foot rocket into low earth orbit. Next summer, the company plans to launch a bigger design called Falcon 9, destined for cargo hauling to the International Space Station. Someday, the company may even compete with Richard Branson and take tourists into space.