Cloud Options of London is one of two international teams participating in this year’s TechStars Cloud accelerator program.
Sarah Cochrane, cofounder of Cloud Options, pitched the company at TechStars Cloud Demo Day Thursday at the Charline McCombs Empire Theatre in downtown San Antonio. James Mitchell is also a co-founder.
Just like electricity is traded as a commodity on an exchange, Cochrane sees a market for future trading of cloud services. That way companies can lock in a fixed price for the services they want and take uncertainty out of the buying process. The market for cloud services is estimated at $106 billion annually, Cochrane said.
“It’s the largest opportunity in commodities today,” she said.
Cloud Options is seeking to raise $2 million to continue to build out its product and already has $500,000 committed, Cochrane said.
Cloud Options Creates a Commodities Exchange for Cloud Computing Services
April 18, 2013 by 44 Comments