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The rocket did not reach orbit, though it did reach space altitude. More details here.
“It has been an incredible day and I’m immensely proud of our talented team,” said Peter Beck, CEO and founder of Rocket Lab. “We’re one of a few companies to ever develop a rocket from scratch and we did it in under four years. We’ve worked tirelessly to get to this point. We’ve developed everything in house, built the world’s first private orbital launch range, and we’ve done it with a small team.
“It was a great flight. We had a great first stage burn, stage separation, second stage ignition and fairing separation. We didn’t quite reach orbit and we’ll be investigating why, however reaching space in our first test puts us in an incredibly strong position to accelerate the commercial phase of our program, deliver our customers to orbit and make space open for business,” says Beck.
It appears they had a problem with the upper stage. Nonetheless, this is a great achievement. They were completely privately funded. They built their own launchpad. When they make orbit they will be the first company to have done such a thing.
I have embedded footage of the launch below the fold.