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It marks the Richard Branson-founded company's third foray into space and aerospace's first-ever successful launch from New Mexico.
The VSS Unity SpaceShipTwo crew landed safely on the ground after the onboard computer lost connection.
A pair of company employees took a ride in the first new form of transportation in more than a century.
It could use the money to fund its space tourism plans.
Branson took to Twitter to acknowledge Stumagz's innovative idea
The Virgin founder also announced that his space company will get off the planet within four months.
Richard Branson Explains Why He's Different From Elon Musk, and What He Looks For When Investing in Startups
The Virgin Group found says, "I'd happily invest in a company that ends up failing in order to find a young entrepreneur who will go on to change the world"
These founders' stories are anything but ordinary
'We are heading towards a disaster. I don't believe the public realized what a mess their vote would cost,' he said.
The search giant pulled a Gmail button meant for fun after people claimed it cost them their jobs.
The British serial entrepreneur recently spoke in L.A. about how startups can take the global market by storm with revolutionary ideas.