Companies such as salesforce and web-hosting outfit rackspace holding ( rax ) may be essential to this sea-change , but their valuations are scarily high .
As you can see from the chart , rax delivered for its shareholders quarter after quarter , eventually rising approximately 10x from its lows a mere 32 months later .
I remember when rackspace ( rax ) went public in august of 2008 ( disclaimer : I have owned shares of rackspace in my personal account for several years ) .
Rax has traded down a bit in the past few months , but still sports a $ 4 billion market cap and is a recognized leader in the hosting and cloud computing industries .
That 's right – shareholders who bought rax at the lows made an unbelievable return , and even those who bought at the ipo price of $ 12.50 made 3x + on their money ( if they held ) .
