Rackspace Invests in $100m HQ

• By theWHIR.com , August 08, 2007

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August 8, 2007 -- (WEB HOST INDUSTRY REVIEW) -- Web hosting provider Rackspace Managed Hosting (rackspace.com) announced this week it will invest $100 million to turn a vacant San Antonio, Texas shopping mall into its new headquarters, and plans to add 4,000 new employees over the next five years, reports Web analytics firm Netcraft (netcraft.com).

The plans are a part of a deal to keep Rackspace in the San Antonio area, which included a $22 million grant from the Texas Enterprise Fund. Rackspace is finalizing an agreement to lease the Windsor Park Mall in San Antonio suburb Windcrest. The company was launched in 1998 in San Antonio by three students from Trinity College.

"The Governor's Texas Enterprise Fund grant was the key factor in Rackspace's decision to keep its company headquarters in San Antonio and build out a new campus within Windsor Park Mall," says Graham Weston, executive chairman of Rackspace Managed Hosting. "We look forward to San Antonio being our home for years to come."

Rackspace has more than 920,000 hostnames housed on its network of six data centers, and has been a top performer in Netcraft's monthly ranking of the most reliable Web hosts, leading the survey six times in 2006 and twice thus far in 2007. The company had a revenue of $75.2 million and a positive net income in the first quarter of 2007, as well as signed more than 900 new customers.

The company announced last week that digital media sharing and social networking platform DigitalPost Interactive selected Rackspace as the hosting provider for its two Web properties, TheFamilyPost.com and WebsitesForHeroes.com.

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