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Wasabi CEO David Friend Talks New Funding, Growth Plans, And How To Compete With AWS And Microsoft

‘We tripled in revenue and the amount of storage and everything else this year, the same as we have for the last three years. So it looks like a sort of a triple-every-year kind of growth path. It can’t go on forever, but right now we’re just struggling to keep up with demand,’ says Wasabi CEO David Friend.

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How about acquisitions on the part of Wasabi? Is there anything that you’d like to do in terms of bringing in other technologies or capabilities?

Nothing on the immediate horizon. If we saw something that really was very helpful to Wasabi and the only way that we could really get access to that technology was to buy some company, I wouldn’t rule it out. But so far we’ve been able to form very good alliances with companies. Like we do file acceleration with a little company called Acembly, and we have a bucket replication software. So we license a number of pieces of software, and I prefer to do that. I prefer to buy the milk than buy the cow.

The only way we can compete with Microsoft and Amazon is by being really, really focused on doing a great job at that one specific thing, which is cloud storage. And I would say the biggest mistakes I’ve ever made in my career were getting distracted and letting my mind wander over here when I should be just focusing on this one thing that kind of differentiates us from everybody else.

But I’m sure opportunities will come along where we say, ‘Gee, you know Wasabi plus this is going to make life a lot easier for our customers. And therefore we should look at either developing that technology ourselves or buying it.’ The choice is always build or buy. If you can buy and it accelerates time-to-market, that’s usually an interesting trade off.

Has Wasabi made any acquisitions yet?

No.

 
 
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