Total market capitalization of the top 30 cloud firms now greater than US$100 billion
Bessemer Venture Partners, in a statement made online, revealed that the total market capitalization of the top 30 cloud computing firms is now more than US$100 billion. Bessemer Venture Partners is the venture capital company recognised for supporting cloud companies like Eloqua and Box. The announcement was made by BVP partner Byron Deeter.
The venture capital firm calculated the valuations of 30 different software-as-a-service and cloud firms that have gone public. "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," Mr. Deeter writes.
Included in the top 30 list are some well-known cloud companies like LinkedIn, Salesforce.com, NetSuite, and Workday. With a combined valuation of around US$67.4 billion, these cloud titans form the top 30's foundation. The list, however, includes many other more recent entries. These newer companies like Rally Software and Marketo recently completed their IPOs earlier this year.