Portfolio.com: Joyent Shoots for “Star Alliance” of the Cloud

January 22nd, 2012

January 23, 2012—- David Young plans to use $85 million to build his cloud computing company into a global force.

A San Francisco company that provides cloud computing power for businesses has pulled in $85 million in funding and a partnership with one of the world’s largest telecommunications company.

“You need to think of this as almost a Star Alliance for the cloud,” Dave Young, chief executive of Joyent, said of his company’s deal with Telefonica Digital, which participated in the funding round. Spain’s Telefonica is the world’s third-largest telecom, and the investment from the company will give Joyent an alliance with a company that operates throughout Europe, Asia and Latin America. Read more