SAN ANTONIO – June 4, 2007 – Rackspace® Managed Hosting, a leading global provider of managed hosting services, today announced the company’s founders and top executive were named Entrepreneur of the Year® by Ernst & Young LLP. Lanham Napier, president and CEO; Graham Weston, executive chairman; Patrick Condon, co-founder; and Dirk Elmendorf, co-founder, were honored by the professional services firm for their demonstration of excellence and extraordinary success in innovation, financial performance, and personal commitment to Rackspace and its employees.
“For 21 years, Ernst & Young has recognized outstanding entrepreneurship through our Entrepreneur Of The Year program,” said Don Calvin, Partner and Program Director of the Ernst & Young Entrepreneur Of The Year program in Austin. “This year’s award recipients are truly an inspiration to all. We salute them for their drive, determination and hard work – and congratulate them on their success.”
Rackspace was founded in 1998 when Weston invested seed capital in an idea presented by three Trinity University students, including Elmendorf and Condon, with a deep interest in and understanding of technology. Their concept of web hosting was ahead of the curve, providing a lucrative business that has grown in revenue by approximately 50 percent each year. Napier joined the team in 2000 as CFO, steering the company through the technology downturn with a steady hand and long-term financial outlook that proved to be the point of difference between Rackspace and its competition. Through a common goal of building one of the world’s greatest service companies, the four entrepreneurs have generated a growing demand for web hosting backed by Fanatical Support™, the renowned customer service experience at Rackspace.
“Word of mouth has driven our growth to 1,600 Rackers in eight years. Our customers love the service focus—our Fanatical Support—which would not be possible without the dedication our Rackers bring everyday,” said Graham Weston, executive chairman, Rackspace Managed Hosting.
The Entrepreneur Of The Year program was created 21 years ago to celebrate great entrepreneurs and heighten awareness of the economic impact of entrepreneurial ventures. Napier, Weston, Condon and Elmendorf were selected by an independent panel of judges comprised of local community and business leaders. The judging criteria includes a thorough assessment of recent financial performance, strategic direction and product or service innovation, company leadership including personal integrity, values and key employee initiatives, and community involvement.
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