The multi millionaire, Elon Musk, who started up SpaceX and has long been trying to make space launch more reasonable, finally got some good news on Sunday, when his commercial rocket, which carried a dummy payload, took off from the South Pacific. 

The attempt which was finally successful, was actually the Space Exploration Technologies, or SpaceX’s fourth attempt to launch the two-stage Falcon 1 rocket into orbit. Musk, who initially worked as the co-founder of PayPal Inc., the electronic payment system, said that fourth time proved to be lucky for them.

The rocket which was designed and built by SpaceX, carried a 364-pound dummy payload. 

Musk, who was really excited about the success reported, “This really means a lot. There are only a handful of countries on Earth that have done this. It's usually a country thing, not a company thing. We did it.”

He further said that the efforts to launch the rockets into the orbit will be kept steady, as the company has solved design issues that hampered the initial attempts. 

The recently launched, Falcon1 is a 70-foot-long rocket which runs on liquid oxygen and kerosene. This is the first rocket in the family of low-cost launch vehicles and carries the price tag of $7.9 million.. 

Other than Falcon1, a larger launch vehicle dubbed as Falcon9 is being designed by the company for NASA, which will be capable of flying to the international space station, when in 2010; the present space shuttle fleet will retires.