SpaceX CEO Elon Musk is getting some big announcement this week. The CEO has just announced the first launch date for the SpaceX’s high-capacity rocket Falcon Heavy.

According to TechCrunch, SpaceX CEO Elon Musk has just confirmed to the world that Falcon Heavy will finally get it first launch date this coming November 2017. Musk made the big announcement on his official Twitter account, with a link to the Instagram posting that showed an image of a conceptual depiction of the Falcon Heavy's launch along with its target launch date.

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The much-talked rocket has been designed primarily to carry a heavy payload to space and beyond. In the upcoming launch date, the Falcon Heavy rocket will use the combined power of one Falcon 9 rocket supported by two additional Falcon 9 rocket boosters to get it off the ground and propel it up to the geostationary transfer orbit, TechCrunch reported.

SpaceX, a close look at the new space overlord

Founded in May 2002 and based in Hawthorne, California, SpaceX is a US aerospace manufacturer and services company. Tech entrepreneur Elon Musk has founded the company with the primary goal of reducing space transportation costs and enabling the colonization of the distant red planet Mars.The aerospace company has successfully developed two launch space vehicles, the Dragon spacecraft family, and the Falcon launch vehicles. Both space vehicles are currently used to deliver the heavy payload into outer space.

SpaceX has made some big achievements in the aerospace industry. The space company has become the first privately funded liquid-propellant rocket (Falcon 1 rocket) to reach the Earth orbit. It also becomes the first company to reuse an orbital rocket in space exploration and the first successful propulsive landing for an orbital rocket.

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SpaceX has made ten space missions to the ISS under the NASA’s space cargo resupply contract. NASA, the US government's premier space agency, has also awarded the Hawthorne-based aerospace firm a development contract in 2011 to develop a human-rated Dragon spacecraft for the American space agency. The Dragon spacecraft has been designed to transport astronauts to the ISS and return them safely home.

The space company has managed to raise funding from several investors, which include Founders Fund, Google, Fidelity, Capricorn, Draper Fisher Jurvetson, and Valor Equity Partners. But the biggest investment came in January 2015, when it raised a whopping $1 billion funding from Google and Fidelity, valuing the space company at approximately $12 billion. In exchange for those massive capitals, Google and Fidelity get an 8.3 percent controlling stakes in the company.

This week, the company has secured a $350 million in new investment funds, which now valued the company at around $21 billion.

This latest valuation makes SpaceX one of the most valuable privately held companies in the world, joining the ranks of others venture-backed companies that made a $20 billion valuation.

SpaceX’s rise to stardom

Space exploration and aerospace technology have long been solely the work of NASA and the industry’s three leading aerospace contractors- Boeing, Lockheed Martin and United Launch Alliance (ULA). The general consensus has been always that space exploration is very expensive kind of business and fraught with too many risks.

Fortunately, Tesla CEO and founder Elon Musk has one great idea that changed all of these. The aerospace company that he has founded has quickly emerged as the new leader in the modern world of space exploration. The company is rocking hard and grabbing headlines across the world.

Today, it officially joined the exclusive group of venture-backed companies that have $20 billion market valuations. This is a huge milestone for SpaceX because there are currently about half a dozen companies in the world that have reached the massive $20 billion mark. Joining SpaceX in the exclusive list will be the two world’s highest valued private companies, Uber and Airbnb.

Finally, SpaceX has made some big news recently when it announced plans to join the $20 million Google Lunar X-Prize competition in December. The company plans to make the first privately held funded trip to the moon using a space rover.