SpaceX demo2 rocket launch in March.

• A privately funded rocket launches from a Pacific atoll Tuesday
• The rocket reached space but re-entered the Earth's atmosphere after half an orbit because of a problem during the second-stage burn, an entrepreneur said
• Falcon 1 is a 70-foot long, 2-stage rocket powered by liquid oxygen and kerosene
• SpaceX founder Elon Musk was a co-founder of PayPal Inc.