Valleywag
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acquisitions
Rackspace gobbles tiny competition to take on Amazon.com
Web hosting? So 1990s. Rackspace is now into "cloud computing." The company has acquired Slicehost, a small but popular virtual private server host, and JungleDisk, an online-storage startup. The deals comes as Rackspace is pushing its Mosso service as an alternative to Amazon.com's computing-power rental offerings. The question is now this, will Rackspace bring their world-class downtime to both services? -
ipo
Rackspace IPO's lesson? Rackspace shouldn't have gone public
One's tempted to praise Rackspace, the San Antonio-based Web-hosting provider, for having the bravery to try an IPO at a time when most tech companies are doing everything they can to avoid the public markets. But with its stock closing the day at $10.01, almost 20 percent below the offering price, Rackspace's IPO was a crashing disappointment. As has the service to its customers. Rackspace once promised "fanatical" customer service. But the company's management seem most fanatical about taking care of themselves. More » -
stocks
Rackspace irons out accounting kinks as it dresses up for IPO
With four different CFOs in only five years, Rackspace has had to take a fine-toothed comb to the books in advance of the server farm's IPO. According to documents filed with regulators, the company disclosed a "material weakness" in its accounting. But if you believe IPO Boutique analyst Scott Sweet, this is all very typical and the deal is still very much in demand. Investors like Sequoia Capital could probably care less whether or not Rackspace cooked the books — once it goes public, they're liquid and Rackspace's spotty uptime, customer dissatisfaction and financial office revolving door is no longer their problem. However Chairman Graham Weston, pictured here, should probably keep that hard hat on just in case. (Photo by Robert Scoble) -
ipo
Rackspace applies for a $400 million IPO
Managed-hosting service Rackspace has filed with the New York Stock Exchange to raise $400 million in an initial public offering. Investors Norwest Venture Partners, Sequoia Capital and company chairman Graham Weston stand to profit from the exit. Rackspace reported $18 million in 2007 profits on $362 million revenues. We called the IPO in January, but we're not sold on its merits. More » -
breakdowns
Pleading, price cuts can't halt Rackspace exodus
Rackspace management called Tumblr's David Karp yesterday and pleaded for mercy. The Web-hosting service even offered to cut bandwidth chargeds from $2 a gigabyte down to 40 cents. (Other Rackspace customers, take note.) Didn't work. Karp, who runs today's favorite blogging tool for emo hipsters, dropped the hammer anyway. In the end, he tells us, it wasn't even Rackspace's winter and fall full of fail that led him to quit the service. More » -
rumormonger
Rackspace going public, according to source's friend's neighbor
Besieged managed hosting service Rackspace will go public "sooner rather than later," an anonymous poster claims on Web Hosting Talk. The source cites "a close friend who is neighbors with one for the bankers working the deal" so the source is rock solid. Or actually its not. It's gossip. Which is what we do around here, 'kay? -
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breakdowns
Rackspace competitors loving the fail
Silicon Valley understands competition, even schadenfreude. So you'll forgive Rackspace competitors if they're just a tad gleeful at the managed hosting firm's failures of late. "It was very interesting (and quite a pleasure) to read your blog about [Rackspace] Well done!" one such competitor writes in an email, here attached as image (click to expand). He goes on: "Would you mind forwarding this email (or making an introduction via email) to Charles Forman with Iminlikewithyou.com?" Well, we'll see do what we can do. Charles? -
rackspace
Four reasons customers hate Rackspace
Managed Web hosting firm Rackspace took out Tumblr, the trendy blogging site, last night, 37signals on Friday, a bunch of U.K. sites in December, and most of the websites you care about last November. Tumblr announced plans to quit the service this morning and at least one other startup customer — Charles Forman of Iminlikewithyou — doesn't blame him. Here are Forman's four reasons why, in his words, "Rackspace f—-ing sucks." More » -
Rackspace goes down again, loses Tumblr's business
Microblogging service Tumblr went down for a few hours yesterday. The outage cost the world several hours of vintage pinup girls and ironic reblogging. And it cost managed hosting service Rackspace a customer.
MORE » -
followup
37Signals blames Rackspace for outage
In November of last year, one of Rackspace's data centers went offline for several hours. One of the companies affected was Chicago-based 37Signals, makers of fancy collaboration software used mostly by Valley companies (including this publication). This morning, 37Signals went offline again — we made a joke about Rackspace in our post, but it seems we were more prescient than we realized. 37Signals is blaming the outage on Rackspace. More »
rackspace
San Francisco, 5:51 PM
Mon Dec 1
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