![]() ![]() While the Carbonite S-1 filing shows the growth potential of online data protection and cloud storage, it also provides a detailed look at some of the risk factors that impact a company like Carbonite. In 2011, we also expect to incur increased expenses associated with expanding to a new data center facility, including relocation of certain of our existing servers, and with relocating our customer service operations from India to the U.S.," the company wrote. "We expect to continue making significant expenditures to develop and expand our business, including for advertising, customer acquisition, technology infrastructure, storage capacity, product development, and international expansion, in an effort to increase and service our customer base. ![]() It also said it has yet to see a positive cash flow from its operations and that it does not expect to be profitable for the foreseeable future. Carbonite said in the filing that it had net losses of $17.4 million for 2008, $19.2 million for 2009, $25.8 million for 2010, and $5.3 million for the three months ended March 31. However, the company has yet to show a profit. Revenue for the first three months of 2011 of $12.8 million is up significantly from the $7.6 million it recorded for the same period last year. Revenue from those customers has grown significantly, reaching $38.6 million for all of 2010, up from $8.2 million in 2008. However, while the IPO filing shows that Carbonite is enjoying a strong growth in its online backup service business, it also shows just how risky this business can be thanks to intense competition, data center issues, and intellectul property disputes.īoston-based Carbonite on Wednesday filed its S-1 statement with the Securities and Exchange Commission in which the company claimed that since its founding in 2005 it has already acquired over 1 million consumer and SMB customers of its online backup and recovery service in over 100 countries.Ĭarbonite also said it has backed up over 100 billion files, and successfully restored over 7 billion of them for its customers. Online backup storage technology provider Carbonite has filed for an initial public offering, hoping to raise $100 million which would be used to invest in the company's operations and in possible acquisitions of other technologies or businesses. ![]()
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