QUOTE AND NEWS
Benzinga  Dec 15  Comment 
Carbonite, Inc. (Nasdaq: CARB), a leading provider of cloud and hybrid backup and recovery solutions for businesses, and MailStore, a leader in email archiving solutions for small and midsize businesses (SMBs), have announced that the companies...
Benzinga  Dec 11  Comment 
Carbonite Inc (Nasdaq: CARB) shares were largely unmoved Thursday by a nudge from suitor J2 Global Inc (NASDAQ: JCOM) concerning its earlier, $15 unsolicited bid. J2, which currently owns about 9.5 percent stake in Carbonite, made the offer...
New York Times  Dec 5  Comment 
The announcement came a day after the company received an unsolicited $15-a-share buyout offer from its rival, j2 Global, that values it at about $404.5 million.
Benzinga  Dec 4  Comment 
Carbonite Inc (NASDAQ: CARB) disclosed on Wednesday that it has received an unsolicited $15 per share buyout offer from J2 Global Inc (NASDAQ: JCOM), valuing the firm at $404 million. Walter Pritchard of Citigroup commented in a note that a...
Wall Street Journal  Dec 3  Comment 
J2 Global is making another play for cloud-storage firm Carbonite. It will be harder to say no this time.
Wall Street Journal  Dec 3  Comment 
Benzinga  Dec 3  Comment 
Carbonite Inc (NASDAQ: CARB) +23% - Shares are up following the company’s confirmation of the unsolicited proposal from J2 Global to acquire Carbonite for $15 per share. G-III Apparel Group, Ltd. (NASDAQ: GIII) +14% - The company reported...
Benzinga  Dec 3  Comment 
Carbonite (NASDAQ: CARB) shares climbed 23.64% to $14.54. The volume of Carbonite shares traded was 3570% higher than normal. Carbonite confirmed the receipt of unsolicited proposal from J2 Global (NASDAQ: JCOM). Tornier N.V. (NASDAQ: TRNX)...




 
TOP CONTRIBUTORS

Carbonite (NASDAQ:CARB) is a web-based technology company which offers customers the ability to backup their files and access them anywhere. Carbonite focuses on small and medium businesses, and allows them backup on the cloud files from computers, smartphones, and cameras. The platform, once enabled, continuously backups files onto the cloud. Carbonite makes money by charging a flat yearly fee for unlimited usage. Carbonite's technology relies on businesses accepting to have their files hosted on Carbonite's servers.[1]

Business Overview

For the full year 2010, Carbonite's total revenue was $39.6M. This was a 102% increase over the total revenue of $19.1M in 2009. The company had not achieved a net income however, as of 2010. In 2009, its net loss was $19.2M and in 2010 it was $25.8M. A large sales and marketing cost from the larges sales team caused such a net loss. [2]

New Updates

The company's initial public offering of stock on the NASDAQ occurred on August 10, 2011. The company offered 6.25M shares each for $10. This was at the low end of the revised price range of $10-$11. The company had originally announced that it would sell its stock between $15 and $17 per share. The lead underwriters of the deal were Bank of America (BAC) and J P Morgan Chase (JPM).[3]


Trends & Forces

Cloud based service

Carbonite's service fundamentally relies on syncing business data onto the cloud. In this case, the cloud refers to a decentralized servers which are not directly controlled by business whose files are being backedup. It is not clear of the wider business community will be willing to have their files stored on someone else's servers. This is because the businesses can not completely control their own files which likely contain confidential information. In addition, some industries, like the financial industry, are highly regulated and are often unable to store files in such a manner. Carbonite's future is dependent on the continued acceptance of cloud computing. [4]

  1. CARB S-1/A 2011 PROSPECTUS SUMMARY "Overview" pg 1
  2. CARB S-1/A 2011 PROSPECTUS SUMMARY "Summary Consolidated Financial and Other Data" pg 7
  3. Renaissance Capital - IPO Home "Carbonite prices IPO at $10, at low end of revised range" 10 August 2011
  4. CARB S-1/A 2011 PROSPECTUS SUMMARY "Risk Factors" pg 24-27
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