DigitalOcean is a pure-play cloud hosting provider. Cloud hosting is an “Infrastructure-as-a-Service” business where providers give customers access to computing resources hosted on its servers (which DigitalOcean calls “droplets”) for a monthly fee. DigitalOcean also provides add-on services for its clients including block storage and load balancers (for an additional charge). Cloud hosting has become increasingly popular among businesses as it allows them to avoid the high upfront costs associated with building and managing their own servers and datacenters. Instead, these customers can treat IT expenditures as variable operating costs that can be scaled as their underlying business grows.
DigitalOcean was founded in 2011 by Ben Uretsky, Moisey Uretsky and Mitch Wainer. The company is headquartered in New York City and has roughly 300 employees.
*Based on Preferred Stock Price, DigitalOcean does not have a stock symbol since it is currently private and is yet to have an IPO.
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