Rackspace Ranked on FORTUNE List

Managed hosting provider Rackspace has been ranked 32 on FORTUNE’s 11th annual “100 Best Companies to Work For” list, it announced on Wednesday.

Rackspace, a first time award applicant, says it was honored among more than 400 entrants nationwide for its dedication to employee recognition, empowerment, communication, development and training.

A motivating reason for the list this year was that these companies excelled in creating jobs. With a worldwide workforce of 2,000 employees, or “Rackers”, Rackspace created more than 500 jobs in the US in 2007, says the company. Other benefits Rackspace was praised for included an open communication with all executives, bi-monthly meetings as well as quarterly celebrations for employee recognition.

Lanham Napier, president and CEO of Rackspace stated “At Rackspace, we consider ourselves a service business, delivering what we call Fanatical Support to more than 15,000 businesses worldwide. Fanatical Support starts with talented, engaged Rackers who are eager to serve. We are proud of the company we’re building together and our culture that powers Fanatical Support. This recognition from FORTUNE magazine reassures us that we’re creating a company that brings out the best in people.”

Starting with the enterprise-class support of dedicated virtualized servers, Rackspace launched a new virtualization initiative on Tuesday,