DigitalOcean Buys Backup and Recovery Provider SnapShooter
The two companies have worked together for some time. We find out what the deal does for partners.
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Channel Futures: Why did DigitalOcean choose to buy SnapShooter over other possible candidates?
Jeff Seifert: SnapShooter’s ease of use and overall value made it a natural fit with DigitalOcean and our commitment to simplicity. SnapShooter makes cloud backups simple, fast, and flexible, which is incredibly important to the startup and SMB audience that we serve. The ability to back up and restore data across servers, files, applications, databases, and across multiple cloud providers as well, is invaluable to the customers building their businesses on DigitalOcean, and is certain to provide them with greater peace of mind. SnapShooter had also already seen previous success as [an application] within our DigitalOcean Marketplace.
CF: What do channel partners gain from the SnapShooter acquisition?
JS: SnapShooter is an excellent value for channel partners and their customers, who often have a mix of workloads such as servers, volumes, apps and databases. These workloads are often distributed across multiple clouds. For these multitenant and fast-moving customers, such as digital agencies and consultancies, data loss can potentially impact their downstream clients and pose a significant business risk for them.
With SnapShooter, channel partners and their customers can consolidate their backups through one … solution and easily configure these backups to meet their individual client needs as well. Fundamentally, SnapShooter is an elegant solution that provides channel partners and agencies with increased confidence and reliability in DigitalOcean solutions, which results in happy clients.
CF: What else can you tell readers about the SnapShooter deal and why it matters to/benefits the channel?
JS: The acquisition helps our channel partners serve their customers better. We’ve already heard from customers … on how effortless it is to set up backups using SnapShooter, and the peace of mind that a solution like this offers to their business.
Last fall, DigitalOcean debuted its new channel partner program, Partner Pod. The initiative targets digital agencies, consultants and technology providers — any of whom could be managed service providers, resellers, integrators or other partner types (potentially, someday, even telecom agents who team with technology solutions brokerages).
At the same time, DigitalOcean, via Partner Pod, embraces small and medium businesses and startups, segments the 11-year-old cloud computing provider has not traditionally served.
DigitalOcean competes against Amazon Web Services, even though the former’s market share pales in comparison to the latter’s.
Despite generally favorable financial analyst views on DigitalOcean, investment bank Barclays on Jan. 11 reduced its target price on the provider from $37 to $32. Last November, Morgan Stanley lowered its price, too, from $41 to $28. Goldman Sachs Group did the same, dropping its target price on DigitalOcean shares from $34 to $29 and advising clients to sell the stock.
DigitalOcean stock closed at $26.70 on Jan. 11, up 43 cents. The company’s 52-week high stands at $78.79.
Despite generally favorable financial analyst views on DigitalOcean, investment bank Barclays on Jan. 11 reduced its target price on the provider from $37 to $32. Last November, Morgan Stanley lowered its price, too, from $41 to $28. Goldman Sachs Group did the same, dropping its target price on DigitalOcean shares from $34 to $29 and advising clients to sell the stock.
DigitalOcean stock closed at $26.70 on Jan. 11, up 43 cents. The company’s 52-week high stands at $78.79.
DigitalOcean has snapped up SnapShooter, a U.K.-based backup and recovery company.
DigitalOcean, an independent cloud computing provider, made the announcement on Tuesday.
Founded in 2017, SnapShooter was privately held until the DigitalOcean deal; as such, DigitalOcean did not say how much it paid for the company. In addition, SnapShooter was no stranger to DigitalOcean. It had been delivering backup and recovery capabilities to the cloud firm since at least 2020.
DigitalOcean’s Jeff Seifert
On LinkedIn, SnapShooter shows one employee, CEO Simon Bennett. DigitalOcean confirmed to Channel Futures that Bennett has joined DigitalOcean. He will “continue to build out and fully integrate SnapShooter into our platform,” Jeff Seifert, vice president of partnerships, said on Tuesday.
In a Jan. 11 press release, DigitalOcean said the SnapShooter purchase will better enable startups and SMBs to protect their cloud data. That includes files, apps and databases, the company said. Users back up their data from DigitalOcean and other cloud providers, as well as platforms including Laravel, WordPress, MongoDB and MySQL.
In this short Q&A, Channel Futures chats with Seifert about the DigitalOcean-SnapShooter deal, as well as what it means for channel partners. We also offer perspective on DigitalOcean’s partner program and its financial activity of late. See the slideshow above.
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