Oracle CTO Ellison: Watch Out Salesforce, We’re On Track To Be A $1 Billion Cloud Vendor
December 19, 2014
Grazed from CRN. Author: Kevin McLaughlin.
Oracle CTO (and former CEO) Larry Ellison once famously trashed the term "cloud computing" as redundant and vague, but now he sounds like he’s had a big change of heart. On Oracle’s fiscal second quarter earnings call Wednesday, Ellison said his company booked $170 million in new SaaS and PaaS subscriptions during the quarter, and expects that figure to jump to $250 million by the end of its fiscal year next May.
In Oracle’s 2016 fiscal year, which starts next June, the Redwood Shores, Calif.-based vendor is on track to sell "well in excess" of $1 billion in new, annual cloud subscriptions, according to Ellison. "As our cloud business gets bigger, our growth rate is going up," Ellison said on the call…
This could pose problems for cloud rivals like Salesforce.com and Workday, which aren’t growing nearly as fast as Oracle, said Ellison. "We’re catching up with them, and catching up very quickly," he said on the call…
Read more from the source @ http://www.crn.com/news/cloud/300075157/oracle-cto-ellison-watch-out-salesforce-were-on-track-to-be-a-1-billion-cloud-vendor.htm