Cloud computing is growing rapidly as the demand for its resources is increasing day by day. Octave Klaba, the founder of the start-up named OVHCloud has declared his planning to invent and build a brand new European cloud-computing champion.
Octave Klaba came to Paris Court to bid for a tech company that had gone bankrupt a year ago. He plans to give tough competition to the industry’s leader- Xavier Neil. Xavier Neil is one of the prestigious personalities of France and a tech billionaire who is dominating the industry.
Klaba said in a statement that Xavier is a Shark of the industry as he can easily pick good opportunities from the present scenarios. He claims to develop a parallel platform to provide essential cloud-based resources to the clients as per their demands.
Klaba surpassed Neil for Shadow which is a cloud-based game service. Neil is a founder of F Technology incubator and a serial investor in many tech-based startups.
Talking about the popularity, Octave Klaba has kept his personality hidden from the public while Neil is already a popular personality in France. However, starting from this week, Klaba-founded cloud company named OVHCloud is all set to hit the steps of Paris’ Stock Exchange. The company will go public and will attract new investors to grow together.
Klaba has also shared the future planning of his endeavor along with the growth of his new start-up. The company aims to generate € 350 million by selling its shares as the new IPO on Paris Stock Exchange. The total valuation of his firm is around € 3.5 billion and € 3.75 billion. Surprisingly, Klaba and his family members own 78% of the shares of the company. This means only 22% of shares will go to the hand of the public to reach out to the claimed valuation.
If we talk about the present scenario of Klaba’s company, the company’s stake at 70% will be valued at € 2.5 billion even if the shares perform poorly in the Paris Stock Exchange. It will eventually make his start-up one of the richest entrepreneurs in entire Europe. Klaba’s vision is very clear, he wants to beat Xavier Neil’s tech company by providing hassle-free and affordable cloud services and other resources.
“I know it’s hard to believe that a Roubaix company that started without venture funding can compete with the American tech giants,” Klaba said. “The IPO will help us convince those who doubt that this is happening and that they should participate.”
How will Octave’s new IPO will perform?
Octave has decided to make his start-up public to attract new investors as he wants to grow into a big start-up. He wants to reach the top of the list of Europe’s popular tech entrepreneurs.
The public listings of tech start-ups in Paris are limited. France has seen a drastic change in the start-ups IPO and the entire market as investors are keen to invest in technology-based start-ups. The only company with over a Billion euros was a music company named Believe that went public last year. The valuation of this company is over a billion euros.
Several French investors and start-up owners went to the US for a better future for their companies and careers. There were fewer chances for them to grow in France. However, the country is now opening doors for start-ups and even investors are also ready to invest in their IPOs as Tech companies are the future.
Europe has a market share of only 1% compared to the market share of the US. The US market share is 66%- the world’s top. That’s the reason why most investors and start-up owners want to shift to the US. However, France’s tech companies are now planning to remain in their country to serve its people. Eventually, they will see positive results and growth.
Klaba is just like us, he lives with simplicity and wants to provide affordable cloud-based services to clients. He wants to expand his company to employ more people. He aims to provide his services and not to grow his wealth.
About Octave Klaba’s OVHCloud
OVHCloud is a website hosting company founded in 1999. At present, OVHCloud has a team of 2,200 employees providing a range of web-based services. If we talk about the services of the OVHCloud, the company provides storage, computing, and networking-related services to the clients of Europe and the United States.
The company has faced a major downfall due to the competition, however, it has still managed to achieve annual sales worth 663 million Euros which is indeed a good mark. Talking about the profits that the company has generated in a year is roughly 230 million Euros from the total sales.
About Octave Klaba
Octave Klaba along with his family members runs this start-up called OVHCloud. Klaba is the president of the company while his father and brother are heads of the network and R&D. Klaba’s father and brother, both are engineers by profession and have good experience in this field. They are also members of the board of the company.
Klaba wants to hit the market for cloud computing services. Since the cloud computing service providers are looting the common people, he wants to build his European Cloud-Computing Champing in the coming days. The platform is growing rapidly as many tech giants such as Google, Amazon, and Microsoft are parts of it.