Rackspace closed ~22% down on its first day of trading, after raising $704M in its IPO, and now has a market value of $3.26B (Bloomberg)

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Techmeme

Bloomberg:
Rackspace closed ~22% down on its first day of trading, after raising $704M in its IPO, and now has a market value of $3.26B  —  - Cloud computing firm Rackspace has year's worst debut in U.S.  — Fellow Texas firm BigCommerce doubles value on its first day

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