"Rackspace.com... today announced the company has completed an
$11.5 million round of private placement financing. The funds were
raised from venture capital firms Sequoia Capital and Norwest
Venture Partners, as well as Red Hat, Inc."
"The funds will be used for continued international expansion in
Europe and Asia. A London data center has been announced and is
currently under development and scheduled for opening in the second
quarter of 2000. Funds will also be allocated to product and
service development as the company seeks to expand its Advanced
Internet Hosting offerings."
"Rackspace.com is a leading provider of Linux-based Advanced
Internet Hosting services targeted to small- to medium-sized