Rackspace (RAX) Sees $2.5M To $3.5M In Service Credits For System Outage
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Yesterday, many websites that are hosted on Rackspace (NYSE: RAX) servers shut down because Rackspace had a problem with its Grapevine, Texas data center. Popular musician, Justin Timberlake's site crashed yesterday because of the Rackspace outage.
Currently, Rackspace expects a preliminary range for the resulting one time service credits to be between $2.5 million and $3.5 million.
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