Pros: Nice people, free snacks, flex hours
Cons: Enforced jollity, instability in management, lack of executable direction
Rackspace has come a long way, with many twists and turns. In 2014, serious thought was given to selling the company, but eventually it was decided against. They have a billionaire founder who helps keep things going. As a result, though, Rackspace is going through some major changes in culture and atmosphere.
The ever-present tendency to rush to market has not been left behind. Rackspace products, therefore, tend to be of lower quality than their competitors'. "Fanatical Support," the Rackspace tagline, is what makes up for the products. There is clearly a market for Rackspace; Gartner just invented a new category, Managed Cloud, and put Rackspace first. But, it's an odd position for a tech company: the products are sub-par, which the savvy tech knows and the true value, Fanatical Support, is utterly disdained by tech experts. So it's a tech company that really caters to the non-technical. This makes it a bit of a conundrum for expert developers.
In personnel issues, Rackspace has always tried hard to be a supportive and embracing culture. Only time will tell if they can hold on to that in the face of "optimizations" that are needed now for them to survive.