Bessemer Venture Partners Launches $100 Billion Cloud Index
July 29, 2013
Grazed from AllThingsD. Author: Arik Hesseldahl.
Still doubtful about the whole cloud computing thing? Here’s a new metric that should probably change your mind. The combined market capitalization of the Top 30 cloud computing companies is now north of $100 billion. Who says so? Bessemer Venture Partners, that’s who. The venture capital firm known for backing cloud companies like Box and Eloqua has tallied up the valuations of 30 different cloud and software-as-a-service companies that have gone public.
And here’s another interesting metric that should get your attention: If they were traded as an index, their shares are up by 168 percent since the start of 2012, beating both the Nasdaq and the Standard & Poor’s 500. BVP partner Byron Deeter announced the Cloud Index in a blog post today. The numbers, Deeter argues, slam the door shut on the argument still made by some software companies that running software in the cloud is a fad…
“With 30 large public companies collectively representing more than $100 billion in market capitalization and $12.5 billion in estimated 2013 revenue, the cloud computing industry has officially come of age,” he writes. So, who’s on the list? Well-known cloud companies like Salesforce.com, LinkedIn, Workday and NetSuite form the index’s backbone, with a combined $67.4 billion, but it also includes other more recent entries, like Marketo and Rally Software, both of which bowed in IPOs earlier this year…
Read more from the source @ http://allthingsd.com/20130729/bessemer-venture-partners-launches-100-billion-cloud-index/