June 20, 2011
By Ezra Brook

Recently Carbonite filed for an IPO and we reported that here. Carbonite is now almost a public company which will be traded at the NASDAQ market with a ticker symbol CARB. The company has filed its first amendment to its prospectus filing.

Carbonite might do very well with its IPO as it is the only pure online data backup company that will be traded publicly. As such, Carbonite might be a crucial IPO for the online data backup and storage industry and could be used as a gauge for other companies in the space which plan to offer IPOs.

“As of May 31, 2011, we had more than one million consumer and SMB subscribers in over 100 countries. Since 2005, we have backed up over 100 billion files and have restored over seven billion files that might otherwise have been permanently lost. We currently back up more than 200 million files each day.”

The amendment read, “We have developed a highly predictable subscription revenue model, with a consistent 96%-97% quarterly customer retention rate, and a scalable infrastructure to support our growth. We generated revenue of $38.6 million and $12.8 million in 2010 and the three months ended March 31, 2011, respectively. We continue to invest heavily in customer acquisition, principally through advertising, and as a result we recorded net losses of $25.8 million and $5.3 million in the same periods. Our bookings have grown from $14.1 million in 2008 to $54.1 million in 2010.”

Carbonite “surpassed 100,000 customers in 2008, 500,000 customers in 2009, and 1,000,000 customers in early 2011. Today we have customers in more than 100 countries, with 94% of our customers based in the U.S.”

Carbonite has just acquired Phanfare for $2 million in cash. The amendment reads, “We may in the future acquire complementary products, services, technologies, or businesses. For example, in June 2011, we completed the acquisition of Phanfare, Inc., a privately-held provider of photo sharing services, for $2 million in cash and the assumption of certain liabilities”.

Phanfare is a photo archival and video hosting site for serious amateur and professional photographers. “Phanfare operates a service that enables users to create, maintain, and share online photo and video albums. Carbonite will continue to employ Phanfare’s five employees at its current location in Princeton, New Jersey”.

For more detailed information, check out this link:
Click this link to read more about Carbonite’s first prospectus amendment

General Tags: online backup news, backing up online, SaaS, data storage, online backup, software as a service, online backup companies, CEO interviews, online file storage, cloud computing, top rated online backups, data security, online backup reviews, compare online backups, online data backup, online backup services, online backup providers directory, online file backup

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