After selling Paypal to eBay, Musk has founded SpaceX with what he got from the purchase. The full name of the company is Space Exploration Technologies. The company is founded in June 2002. Elon Musk is CEO and CTO of the company. SpaceX is a company that is focused to improve the situation in rocket technology and other related technologies. Musk states that main mission of the company is decreasing to launching costs to one tenth with increasing reliability tenfold. SpaceX is rewarded by a NASA contract with amount of 1.6 Billion dollars in 2008. According to Musk, exploration of the space is an important step to enlarge and protect human race. In his opinion, multi-planet human life may be a precaution for the things that are threatening the survival of the human race. SpaceX broke many grounds and prejudices. In 2009, Falcon 1 rocket was the first private financed launch vehicle with liquid fuel that place satellite on earth’s orbit. It was the First private company that is tasked with carrying load to the international space station by NASA. Elon Musk states that the Ultimate goal of SpaceX Company is sending people to MARS and colonizing it.