A privately funded rocket was lost on its way to space Saturday night, bringing a third failure in a row to an Internet multimillionaire’s effort to create a market for low-cost space-delivery business.

The failure occurred a little more than two minutes after launch, about the time of first stage separation, and the vehicle appeared to be oscillating before the signal was lost.

“We are hearing from the launch control center that there has been an anomaly on that vehicle,” said Max Vozoff, a launch commentator for the company, on a Webcast of the event soon after the live video feed from the rocket went dead.

The two-stage Falcon 1 rocket was manufactured by Space Exploration Technologies Corporation, based in Hawthorne, Calif.