Rackspace IPO price: $12.50 - Ready for the Big Show!
Rackspace Hosting Inc, began trading common stock today under the symbol “RAX”. 15 million shares of common stock were initially priced by Rackspace at $12.50 per share. The company is going through a “dutch auction” IPO process that is similar to that employed by Google back in 2004. The trend for the market on this 8-8-08 is an upbeat market at mid-day. This is the first information technology company to IPO in six months. Zachary Scheidt breaks down the viability of and potential of this IPO.
Rackspace recently announced upgrades to its Cloud Computing Project, through its Mosso cloud division and The avantages to Rackspace’s system is scalability and provisioning time. Will other hosting companies compete? Rackspace appears to have taken managed hosting a step further and beyond the realm of shared hosting into robust, scalable application platforms. And through Mosso’s control panel, they appear to have created a focus on usability.
So the hosting revolution is on, major webhosting companies coming into the fray, cutting-edge pioneers, a major IPO, and the attention of the buzz word of 2008.
Hang on, this will be a great ride….
[...] stock market”, but what may have really spooked them was the fate of Rackspace, who had their IPO last week. Rackspace had all indicators going for it yet has pretty much tanked, not completely, but surely [...]
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