Rackspace to be added to NASDAQ index

Web hosting company Rackspace will be added to the NASDAQ Internet Index, according to an announcement from the The NASDAQ OMX Group, Inc. Fourteen companies will be removed from the index. The annual evaluation of the NASDAQ Internet Index is traditionally issued every March, and this year it will become effective with the market open on Monday, March 23, 2009.The Index is designed to track the performance of the largest and most liquid U.S.-listed companies engaged in internet-related businesses.Rackspace had their initial public offering in August last year.The Texas-based web hosting company raised $187.5 million with the sale of 15 million shares. Rackspace had filed for an IPO in 2000, only to withdraw it when the market cooled to technology-related IPOs that year.Since their IPO, they have been expanding their services portfolio with new offerings and acquisitions.