We don’t have a lot of details yet, but San Antonio-based Rackspace stands to raise around $400M with their Initial Public Offering (IPO). They’re taking the same route as Google, in terms of using an auction-style offering to help maximize the funds raised. The financials are pretty interesting. The company has grown revenues very rapidly in the past few years, but it has also grown overhead pretty quickly. While revenues from 2005 through 2007 have [...]