Feb 18, 2004 : Rackspace Grows 48 Percent in 2003

📅 February 18, 2004 - Rackspace Managed Hosting (rackspace.com 👉 Total Reviews: 16
🙌 Average Rating: 3.3 / 10
👍 Good Reviews: 4
👎 Bad Reviews: 12
👈 Official Responses: 0) announced on Tuesday that it achieved "strong company growth" in 2003 with revenue increasing 48 percent and profits before taxes growing 134 percent over 2002. The company also announced that it finished the year with a record fourth quarter, recording 13 percent sequential growth and an annualized revenue run rate of $70 million.

"Managed hosting has been a tough business for a lot of companies the past few years," says Lanham Napier, president of Rackspace Managed Hosting. "But we've managed to distinguish ourselves by concentrating on support of our customers' enterprise applications. We're specialists, not generalists like IBM and EDS, and our customers know the difference by the attention we provide to their businesses. That's why we're the fastest growing company in the managed hosting business."
The Texas-based company credited its growth to the success of its enterprise hosting offerings, including its Microsoft hosting division Intensive Hosting (intensive.com). Rackspace said it now hosts applications for 10 percent of the Fortune 100 and has nearly tripled the number of 24-month contracts valued at over $500,000 that it holds. New clients signed on in 2003 include The Scotts Company, Motorola and the NFL.
Rackspace, boosted by its Fanatical Support program, said it maintains the highest customer approval ratings in the industry.
In 2003, Rackspace introduced a 100 percent network and infrastructure availability service level agreement and launched PrevenTier, a three-tiered security system for prevention and mitigation of distributed denial of service (DDoS) attacks.