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March 17, 2014

DigitalOcean Startup Grows to Bring in Over $37 Million in Revenue

DigitalOcean, a technology company that sells cloud hosting services to app developers, has taken off tremendously. The three owners, Mitch Wainer and brothers Ben and Moisey Uretsky, have grown their business to become a multi-million dollar startup.

DigitalOcean is different than your typical SSD cloud server, VPS server, or Simple cloud hosting provider. It has a clean and easy to use control panel where you can create, resize, rebuild, and take snapshots with a single click verses having to go back and forth between multiple screens.

In addition, it comes with full Wordpress capability, DNS management, Ruby on Rails capability, and one-click application installations. These are important tools because the everyday person just trying to make a site to the advanced techies hoping to form something more significant can use them.

 The startup has worked hard to manage more products while keeping its demand high. The company has just grown to a whopping $37.2 million dollars thanks to some venture capital firms that were willing to invest some money into the company.

The company currently has 180,000 customers, up from just 2,000 in January 2013. The application developers have seen some serious “growth” right now said Michael Rasalan, director of research for Evans Data Corporation (News - Alert), which tracks developers.

He said the products that the global population of app developers offer will continue to grow and increase by as much as almost 10 million by 2019.

“The thing that blew me away was the growth,” said Peter Levine of Andreess Horowitz, who will be joining DigitalOcean’s board. “These guys have just cracked the service of developer community,” said Levine in a statement.

The plan is to continue offering services worldwide including increasing its data centers in New York, Singapore, Amsterdam, and San Francisco.

“We have a ping pong table in the office and once that gets folded up and moved to the side, that’s when we know we have to move,” Wainer said. “Ping pong is critical,” he added with a laugh.




Edited by Cassandra Tucker
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