See key moments in SpaceX history, from Elon Musk celebrating with the team when there were fewer than 10 employees, to its milestone rocket launches.

With SpaceX seeking a valuation of nearly $1.8 trillion in IPO, early bets are poised to generate some of the biggest paper gains in venture capital history.

More than 20 years after its founding, SpaceX made history Friday with its record-high stock market debut, crowning a unique journey marked by dazzling successes but also…