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We look at Rackspace’s finances, a Facebook code change causes numerous app issues and electric vehicle company Rivian raises $2.5 billion. Here’s your Daily Crunch for July 10, 2020. | | | |
The cloud computing company first went public in 2008, before accepting a $4.3 billion offer to go private from Apollo Global Management. Rackspace says it will use the proceeds from the IPO to lower its debt load. Alex Wilhelm took a deep dive into Rackspace’s finances, concluding that the proper valuation is a “puzzle”: The company is tech-ish, which means it will find some interest. But its slow growth rate, heavy debts and lackluster margins make it hard to pin a fair multiple onto. Read more | | Image Credits: TechCrunch | | |
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| Image Credits: Rivian | | |
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| Image Credits: NASA | | |
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