Wasabi Hot Cloud Storage is Growing Fast
As CEO of a startup, you plan for greatness. So, while I’m not surprised at our early success, I am slightly awed and more than a little grateful to be surrounded by such an amazing and talented team. Wasabi had a truly phenomenal first year.
We already have nearly 2,000 paying subscribers representing billions of stored objects with no signs of slowing. Between 60-80 new customers are joining the Wasabi revolution every week.
Here’s what we did this year to contribute to that success and some near-term plans for continued growth.
No Egress Fees Increase Demand for Wasabi Cloud Storage
In addition to being 80% cheaper and 6x faster than Amazon S3, Wasabi has a much simpler pricing model. You only pay for storage. We never charge for API calls and we recently got rid of egress fees. These additional fees not only make it impossible to predict your monthly storage costs, they can have a dramatic and unpleasant impact on your total costs.
For example, Amazon charges hefty egress fees every time you access your data. While they charge approximately $23/TB/month for basic storage, they charge up to an additional $90/TB to download data. At these rates, if customers access their data once every four months, it would roughly double their total cost.
Customers hate egress fees for these reasons, and because it makes them feel “locked in” to a specific vendor. Wasabi customers are clearly loving no egress. Visits to our website increased by 30 percent the week after we announced our Unlimited Free Egress, and a Facebook Live video we did on the subject has been viewed over 46,000 times!
According to the industry analysts we’ve spoken to, the unpredictability of cloud storage costs has been a major factor holding back large-scale migration from on-premises to cloud storage. Now, with unlimited free egress from Wasabi, we think the market is much more likely to make the move.
100% Amazon S3 Compatibility Makes It Easy to Switch
Because we made the conscious decision to make Wasabi 100% compatible with Amazon’s S3 API, we were instantly compatible with hundreds of third-party solutions and in-house applications designed to work with S3. Managed service providers and systems integrators who bundle Wasabi with their backup, disaster recovery, video surveillance, post-production, and other solutions, are realizing how easy it is to compete on price and increase their margins simply by switching their backend storage.
Wasabi Client for Mac and Windows Expands our User Base
Not everyone needs or even knows how to use an API. For non-technical users who simply want a convenient and safe place to store files, Wasabi recently introduced Wasabi for Mac and Windows. This free download makes Wasabi cloud storage appear just like any other drive or folder on your computer. This simple solution is helping a whole new class of users to experience the low cost and high speed of Wasabi hot cloud storage.
Word of our Success is Spreading Fast
We knew we had a world-class solution on our hands, but that wouldn’t mean a thing if the world didn’t know about us. So, brand awareness, marketing and PR continue to be a high priority for us. The number of awards and recognition we’ve received is a tribute to the hard work and talent of both our marketing and engineering teams:
- 2017 MIT Start-up Spotlight Future Unicorn
- 2017 Frost & Sullivan North American Hot Cloud Storage Technology Innovation Award
- Boston Harbor Angels’ 2017 IT Startup of the Year
- Built in Boston’s 50 Startups to Watch in 2018
- CRN 100 Coolest Cloud Computing Vendors in 2018
- Network World 10 Hot Storage Startups to Watch
- 2018 BBJ Best Place to Work Honoree
We’re Opening Our West Coast Data Center
Our new data center in Hillsboro, Oregon opens next month. It will deliver another 20 PBs of storage capacity.
For customers requiring disaster recovery or additional resiliency, we will soon be able to offer automatic data replication to and from our east coast and west coast data centers. We will also be able to attract bigger customers in Silicon Valley and Hollywood by providing dedicated 10 Gbps connections from our Hillsboro data center to drops in San Jose and Los Angeles.
Unlimited Opportunity Ahead
I have founded and led many successful companies over my long career, but I have never been more excited about an opportunity quite as much as the one before us at Wasabi. AME Cloud Ventures estimates that 137 PBs of data are ingested by the cloud every hour. IDC believes the world’s data will exceed 163 zettabytes (that’s 163 million petabytes) by 2025. And most analysts agree that 80% of the world’s data still reside in private data centers.
As the great migration of data to the cloud begins in earnest, Wasabi is in a strong position to grab its share. We stand for cloud storage that is cheap, fast, reliable, and ubiquitous. We’re laser focused on being the best cloud storage provider in the world… and beyond.