History
In 1996, Richard Yoo started a small ISP called Cymitar Network Systems out of his garage apartment in San Antonio, Texas. The company quickly began doing application development work in addition to offering basic Internet access and web hosting. In 1997, Yoo brought on Dirk Elmendorf. When the company began to develop Internet applications as its primary business, the company was re-formed as Cymitar Technology Group. As Cymitar Technology Group grew, Patrick Condon was recruited from California and joined the team in 1998. Coincidentally, all three of the company's founders were students at one time at Trinity University in San Antonio.
Although the founders began as application developers for end-users, they found that most companies didn't know how to host their applications, or didn't want to be involved in the hosting. The founders wanted to keep their focus on the application development–not the hosting–but they were unable to find an opportunity to outsource the hosting work. Eventually, the founders realized that it would be better to create a product to serve the hosting need and launch it as a company. Rackspace was launched in October 1998 with Richard Yoo as its CEO. Although most hosting companies focused on the technology end of hosting, Rackspace created its "Fanatical Support" offering to focus on service and support. On March 28, 2000, Rackspace received funding through Norwest Venture Partners and Sequoia Capital. George J. Still, Jr., Managing Partner at Norwest, subsequently joined the Board of Directors where he continues to serve today.
Read more about this topic: Rackspace
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