This Cloud Computing Company Is Waking Up to Its $251 Billion Opportunity
DigitalOcean (NYSE: DOCN) has established itself as a simpler alternative to megacloud computing platforms such as Amazon Web Services (AWS) and Microsoft Azure. For individual developers and small businesses without vast IT budgets or the willingness to scale the steep learning curves associated with AWS, DigitalOcean is an appealing option.With a new CEO taking over in early 2024, DigitalOcean has accelerated its efforts to capture the market for cloud computing and AI without the hassle. CEO Paddy Srinivasan faces a tough balancing act: Keep the platform simple while expanding its capabilities to go after larger clients. The prize is $251 billion in expected spending by 2028 from individuals and companies with fewer than 500 employees on infrastructure-as-a-service and platform-as-a-service.One of the biggest changes for DigitalOcean under Srinivasan has been speed. In the fourth quarter of 2024, the company released more than four times as many product features as it did in the fourth quarter of 2023. Recent product launches include GPU-enabled virtual servers, the GenAI platform for generative AI workloads, and multiple load balancing products.Continue reading
DigitalOcean (NYSE: DOCN) has established itself as a simpler alternative to megacloud computing platforms such as Amazon Web Services (AWS) and Microsoft Azure. For individual developers and small businesses without vast IT budgets or the willingness to scale the steep learning curves associated with AWS, DigitalOcean is an appealing option.
With a new CEO taking over in early 2024, DigitalOcean has accelerated its efforts to capture the market for cloud computing and AI without the hassle. CEO Paddy Srinivasan faces a tough balancing act: Keep the platform simple while expanding its capabilities to go after larger clients. The prize is $251 billion in expected spending by 2028 from individuals and companies with fewer than 500 employees on infrastructure-as-a-service and platform-as-a-service.
One of the biggest changes for DigitalOcean under Srinivasan has been speed. In the fourth quarter of 2024, the company released more than four times as many product features as it did in the fourth quarter of 2023. Recent product launches include GPU-enabled virtual servers, the GenAI platform for generative AI workloads, and multiple load balancing products.
