3PAR CEO on The Future of Cloud Storage

3PAR sells virtualized storage systems and competes against giants including EMC, Oracle and Hewlett-Packard. Forbes.com recently interviewed CEO David Scott to get his unique take on how both storage and cloud computing will evolve.

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"David Scott: Over the last six or seven years we've actually achieved a revenue growth rate that's almost a 70% compound annual growth rate. And in the last year or so, in 2010, as the economic recession took hold, we actually were one of the few storage technology companies that managed to maintain year over year positive revenue growth every quarter, albeit at a slower pace than we'd previously seen.

"I think the slowdown was entirely due to economic conditions. People are either not replacing their existing storage systems, which inhibited us from being able to break into new accounts, or people are facing reduced budgets. Obviously that depresses revenue growth as well."

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