Summary List Placement
2020 was the year that almost all business moved online — and 2021 could be the year that web service companies cash out.
That appears to be the case for Kaseya, an IT and cloud security services provider valued at $2 billion at the start of 2020 that caters primarily to small businesses and managed service providers. Kaseya blew past its own expectations last year, CEO Fred Voccola told Insider, as thousands of businesses looked to beef up their online offerings to survive COVID-19 shutdowns that closed in-person operations. And he believes that the fallout from the massive SolarWinds hack could position the business to grow even further.
“We got lucky, for lack of a better word, and we positioned ourselves pretty well over the last five years,” Voccola told Insider. “And it paid off.”
The Miami-based company is on track to take in roughly $330 million in revenue in fiscal year 2021 — a 25% increase over the previous year — and will make $120 million in earnings before interest, taxes, depreciation, and amortization, according to Voccola.
Now, Kaseya is eyeing an initial public offering in 2021. If successful, it could be the latest in a string of web services …read more
Source:: Businessinsider – Tech