SOASTA's CEO on its $30 million funding round, and the biggest issues in e-commerce
- Jon Xavier
- Web Producer- Silicon Valley Business Journal
- Email | Twitter | Google+
That's a pretty big number, and CEO Tom Lounibos said the company raised it because it needs to grow very, very fast to address huge demand from web developers for ways to quality test the software they develop. SOASTA's core products use cloud technology and virtualization to simulate traffic so that developers can see how their service will respond, and ensure that the user experience doesn't break down. It's been used, among other things, to ensure the websites for the Olympics wouldn't buckle under the load of millions of people worldwide trying to buy tickets all at once, to give you an idea of the scale of testing it performs. It also has a new generation of monitoring tools that can show what users are doing on a site or in a service in real time, so that developers can improve them based on actual data.
I sat down with Lounibos to talk about the funding, the testing space, and why he thinks the company could be headed for an IPO as early as 2015.
Why is the testing space so hot right now?
The biggest trend, at the highest level, is there are just so many people doing business online these days, and that is driving demand. Just in the past year there's been about a trillion dollars worldwide that has moved into e-commerce. And that's coming directly from the so-called brick-and-mortar business and going online. Look at what happened with Barnes and Noble and Amazon. Amazon has basically taken over the book business. One of the things that's a consequence of that move is that these companies want the experience to be the same online as it would be in the store.
Jon Xavier is Web Producer at the Business Journal
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