• Apr282008

    Rackspace files IPO

    Posted by Gene in Business

    RackspaceLooks like Rackspace has filed with the SEC for an IPO. They are going to do an auction round just like Google originally did when they went public. I don’t normally care too much about this kind of thing but this one peeks my interest both because we use them as one of our hosting providers and that they’ve already tried to go public a few years back. Good luck Rackspace!

    Link for more info here.

    With the filing we also get a clearer picture of Rackspace’s business and financials. Its revenues grew 62 percent last year to $362 million, but it posted net profits of $17.8 million, which were down 10 percent from the year before. Cash flows from operations, though, remained healthy at $105 million last year, up from $61 million in 2006.

    Another interesting tidbit: that truck accident that took down one of its data centers in Texas last November cost the company $3.4 million in credits to customers.

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