I’m David Friend, and I’m the CEO and co-founder of Wasabi. This is the fifth company that my partner, Jeff Flowers, and I have co-founded over the past 30 years, the most recent being Carbonite, a leading cloud backup company that is listed on the NASDAQ.
We’re storage experts. By the time we left Carbonite, we were backing up over 500 million new files every day. We had hundreds of petabytes of storage. When we started out in 2006, we had some big competitors, including Iron Mountain, EMC, and HP. We managed to beat them all in online backup by offering far better value based on superior technology.
Wasabi’s mission is to commoditize cloud storage. We think cloud storage should be like electricity, just part of the infrastructure that everyone takes for granted. It needs to be inexpensive, fast, secure, and able to meet the compliance needs of HIPAA, FINRA, CJIS, etc. We’re also big believers in immutability, discussed elsewhere on the website.
Commodities need to conform to standards, and we decided to make Wasabi storage 100% bit-compliant with the Amazon S3 interface since it is as close to a standard as exists in the object storage world.
The bottom line is that we have created a new generation of cloud storage that is less than 1/5th the cost of Amazon S3 and more than 6x the speed.
Why did we decide to take on a huge competitor like Amazon? Because we see an opportunity to build a great company that changes the economics of cloud storage. We love David and Goliath stories, like Nucor taking on US Steel, MCI taking on AT&T, or Apple taking on IBM. When a disruptive technology comes along, it’s hard for incumbents to respond. Scale works against them, rather than for them. We saw this at Carbonite when much larger rivals ceded market to us, not because they couldn’t produce a competitive product, but because they had to protect their margins and business model.
If you try Wasabi storage, you’ll see that we run circles around any other cloud storage when it comes to speed, price, security, and ease-of-use while still maintaining the same 11 “9s” of durability that you get from slower, much higher priced services like Amazon S3. If you have any questions about the company, please feel free to drop me an email.
David Friend, CEO