Although Digital Realty has almost $1.5 billion in annual revenue, after ten years as a publicly traded company, the startup mentality is alive and well in our DNA, and this is why I was personally excited to be a part of the AngelHack Silicon Valley Spring 2014 event over the weekend.
AngelHack is a weekend bootcamp for developers, with hundreds of developers and designers working through the weekend, learning and sharing about Android and iOS development. Everyone was coding through the night, with pillows.
Digital Realty was the keynote sponsor at the event because we feel strongly about the importance of innovation, and we want to promote and support the community by accelerating startups.
Supporting the growth of new businesses in the Valley and elsewhere in the world dates back to our early days, and the early days of companies like Facebook, who came to us with a need for data center space.
Facebook has been a client of ours since 2006. Before we signed our first contract with Facebook, I sat down with Gideon Yu, Facebook's CFO at the time, to review their financials so that we could get comfortable with working with them.
We talked through their business goals, their data center requirements, and their long-term capital plan. As a result of that conversation, we moved forward with Facebook, and as they grew, their data center footprint with Digital Realty grew as well.
We helped them with the data center capacity that they needed. By working with us on many of their data centers, and opting for an outsourced data center solution, much of their data center investment became an operating expense rather than a capital expense. I think it's fair to say that Facebook benefited by having us in their corner at that time, and of course we benefited as well.
The rest, as they say, is history. Today, Facebook is one of Digital Realty's largest clients (the sixth largest, as of 12/31/13). Facebook is but one example of our history of identifying and enabling the growth of businesses that start small and dream big.
Our interest in supporting the startup community is also why, in addition to sponsoring the AngelHack event, Digital Realty recently launched a special promotion for early stage startups. The program is called Digital Accelerator.
Digital Accelerator is both a contest and an incubator program. The winner of the contest will receive a free 4 kW cabinet with power and fiber connectivity for one year at one of our colocation data center facilities.
You can find more details about Digital Accelerator and information on how to apply atdigitalaccelerator.co (or http://dlr.cm/AxDR14). Submissions are due by August 31, 2014 and the winner will be notified by September 30, 2014.
It's our goal to help all of our clients achieve their dreams. I encourage all eligible startups to submit applications for the Digital Accelerator program.
Bill Stein, Interim CEO and CFO, Digital Realty