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IT hosting company Rackspace files for big IPO

http://goldmoneynews.com/ 2008/ 06/ 10/ it-hosting-com...

Filed under: Investments In one of the biggest technology-related IPOs this year, website and IT system hosting company Rackspace Inc. late Friday filed to raise up to $400 million on the NYSE. The company previously sought to raise $42 million in an IPO in 2001, but withdrew it in the wake of the tech market meltdown. Rackspace reported 2007 profits of $18 million on net revenue of $362 million. In 2006, it earned $20 million on net revenues of $224 million. The offering, which will be conducted via auction, would represent a rare IPO exit for a host of investors that have backed Rackspace during its eight-year history.

177 days ago

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