Bottom out in SaaS valuations? 💵

And also: Google’s first cloud region in South Africa, Report on cloud infrastructure, Microsoft open-source AgTech, "Data Never Sleeps" infographic.

This is the Cloudly Update. Helping you stay above the Clouds.

Today we bring you:

  • Bottom out in SaaS valuations?

  • Google’s first cloud region in South Africa

  • 70% of all technology infrastructure going to the Cloud

  • Microsoft’s open-source technologies for sustainable agriculture

  • Domo’s 10th “Data Never Sleeps” Infographic

Bottom out in SaaS valuations? 💵

The valuation of public SaaS and Cloud companies has been relatively steady during the past three months. Currently, the median EV to Forward Revenue multiple in the BVP Emerging Cloud Index stands at 5.2x. This is a 60% decline compared to twelve months ago.

The fundamentals have not changed much, meaning that the decline is from future expectations of deteriorating fundamentals and higher interest rates.

Read more here.

Google’s first cloud region in South Africa 🌍

Google announced the launch of a cloud region in South Africa to catch up to top providers like AWS and Microsoft. It is unclear why, until now, Google has been absent in Africa.

  • Building Dedicated Cloud Interconnect sites in Nairobi (Kenya), Lagos (Nigeria) and Cape town, and Johannesburg to link on-premises networks.

  • Plans to tap its private subsea cable, Equiano, (connected with Africa and Europe), with four landings — in Togo, Namibia, Nigeria, and South Africa.

  • Allows customers to choose where they store their data in the context of data sovereignty.

  • Early adopters include TakeAlot and Kenya’s Twiga.

Read more here.

70% of all technology infrastructure going to the Cloud ☁️

Cloud is quickly becoming the corporate norm, driving dramatic improvements in innovation, insights, and cybersecurity.

According to The Hackett Group study, as part of its new Cloud Value Assessment Services Offering launch, 70% of all technology infrastructure will be cloud-based within two to three years. 12% to 35% reduction in technology infrastructure costs and fifteen percentage points more significant improvement in objectives can be seen post-migration.

Significant benefits

  • A 36% increase in developer time devoted to innovation

  • A 45% reduction in time to market for new product features and functionality

  • A 53% reduction in the time to achieve actionable insights from data

  • A total of 44% fewer security and other critical infrastructure incidents

  • And a 52% average reduction in downtime

A public overview of the study results, “The State of Cloud Adoption by the Numbers,” is available at the link.

Microsoft’s open-source technologies for sustainable agriculture 🚜

Microsoft Research will open-source the underlying code for a series of agricultural technologies called FarmVibes.AI. The company is making the code available on GitHub.

FarmVibes.AI technologies

  • Async Fusion uses drone and satellite images in combination with ground-based sensors to provide soil insights.

  • SpaceEye removes clouds from satellite images to analyze conditions in fields.

  • DeepMC uses sensor data and weather station forecasts to predict temperatures and wind speeds.

  • A “what if” tool for soil-based carbon sequestration

Read more here.

Domo’s 10th “Data Never Sleeps” Infographic 🛏

Domo has released the 10th edition of the “Data Never Sleeps” (DNS) infographic to show how much data is generated on the internet every minute.

DNS 10.0 Highlights

Connecting the World

  • 1700% increase in Instagram photo posting per minute from 3,600 photos (DNS 1.0) to 66,000 (DNS 10.0)

  • Tinder users swipe 1.1 million times, up 164% from DNS 2.0

  • Smartphone owners send three times more texts (16 million) from DNS 4.0

Not Everyone Wins

  • Twitter posts up nearly 3X from 2013 but saw a 40% decline in user postings year over year (From 575,000 posts to 347,000)

  • Modest increase of 13% in email in 10 years

  • Other communications platforms seen increased usage by hundreds of percentage points

Digital Dollars

  • Amazon each minute spending $443,000

  • Cryptocurrency purchase $90.2 million

  • Online event $12,938

  • Venmo users $437,595

See the full “Data Never Sleeps 10.0" infographic here.

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