Taylor Rhodes On The Future of Rackspace
William Taylor Rhodes took the reins at Rackspace in 2014, the San Antonio-based company was in the midst of continuing troubles. The company was outgunned in a battle for the cloud with Google, Microsoft and Amazon. He led the company through those dark times. He saw their stock price take a beating, some top talent left due to the uncertainty and constant speculation about the future of the company.
He made big changes. Late last year the company launched a host of new products aimed at not competing with the above tech giants, but instead incorporating their platforms and selling their services on top. Despite the stock price's rollercoaster, Rackspace has remained profitable and many believed it was undervalued in the market. One such company was Apollo Global Management.
The private-equity firm Apollo Global Management agreed to buy the company for $4.3 billion in August. Rackspace officially became a private entity on Nov. 14. Taylor Rhodes walks us through what comes next for the biggest San Antonio tech company.