This is one of the teams pursuing the Ansari X Prize, a $10 million bounty to the first private organization that can launch a vehicle into orbit with passengers twice in two weeks. This trip had no passengers, and thus did not qualify as a first run for the X Prize; it is a significant milestone nonetheless.
UPDATE: Oops! The X Prize doesn’t require orbital flight, but suborbital space flight (62 miles or higher). I knew that, but must have committed a thinko when writing it up.