As Boston Tech Support providers, we found interest in this Boston Business Journal article for two reasons. One it’s about Boston Business and second it’s about technology. Of course we’d be interested, hopefully you will too.
If Carbonite succeeds at growing its online backup service as planned, it will only be a matter of time before the Boston company becomes an acquisition target, including for Hopkinton-based EMC.
That’s according to Bhavan Suri, an analyst with William Blair & Company. Through his research, Suri says he’s found Carbonite backup technology is highly efficient — and might become appealing to companies like EMC that want a bigger footprint in the consumer backup space.
Way back in 2007 EMC bought Carbonite rival Mozy and has based its online consumer backup service around this relationship ever since. Change started this February, when EMC announced that Mozy would stop offering unlimited file storage and it would be available by Carbonite. (Carbonite charges $59 a year and MozyHome charges $6 a month for its low-end plan, $10 a month for higher storage.)
Meanwhile, the newly-public company has eclipsed the 1 million user mark and is sitting on $56 million in cash from its August IPO. In an interview, Carbonite CEO David Friend said the company has gotten to the point where it can reliably know that a dollar invested in marketing will “get a big multiple” in customer acquisition.
Anything that’s news for Boston IT businesses is noteworthy for us. Competition and product development cause changes to our business as it does for most so we like to keep you informed of news for other Boston Area Small Business too.
If you would like to read more about this in the Boston Business Journal, click here.