Rackspace,
a San Antonio, Texas-based managed hosting specialist known for
its "Fanatical Support", will trade on the New York Stock
Exchange as RAX when it goes public with a Dutch auction. Rackspace,
the largest privately-held hosting company, competes with IBM (IBM),
AT&T (T), Savvis (SVVS), Terremark Worldwide (TMRK) and many
privately-held companies.
Rackspace's income
statement shows that the company grew its net revenue from $138,768,000
in 2005 to $362,017,000 in 2007. Its net income grew from $10,772,000
to $17,829,000.
In addition to its hosting business, Rackspace owns Mosso, a cloud
hosting service and MailTrust, an enterprise e-mail application.
Watch for the actual IPO date press
release from Rackspace.
Related Links:
A
Rackspace redo: Hoster eyes IPO (again)
Rackspace
IPO an Important Sector Indicator
Update:
Rackspace Files IPO, Will Set Price Via Auction
Posted July 14, 2008.
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