Wasabi Technologies Acquires Curio AI, Adding Machine Learning Capabilities to Its Object Storage Service
Introduction
In a strategic move to bolster its cloud storage offerings, Wasabi Technologies, a frontrunner in object storage solutions, has acquired Curio AI, a machine learning technology company specializing in video metadata creation. This acquisition marks a pivotal expansion for Wasabi, which has been solely focused on providing cost-effective object storage since its inception in 2017. The integration of Curio AI’s technology will introduce advanced video analysis and metadata extraction capabilities, enabling Wasabi to offer a more comprehensive and differentiated cloud storage service.
The Acquisition of Curio AI
Wasabi acquired Curio AI from GrayMeta Inc., a Los Angeles-based company focused on media digitization and playback software. The acquisition encompasses Curio AI’s technology, intellectual property, and staff, including its founder and CEO, Aaron Edell, who will join Wasabi as the senior vice president of AI and machine learning. The financial terms of the acquisition were not disclosed.
Expanding Wasabi’s Product Offerings
The acquisition of Curio AI signifies a significant expansion for Wasabi, which has previously concentrated exclusively on providing low-cost object storage. By incorporating Curio AI’s technology, Wasabi aims to differentiate its service by offering enhanced video analysis and metadata extraction capabilities. This move aligns with the growing trend among cloud storage providers to offer value-added services beyond basic storage to attract and retain customers.
Market Dynamics and Competition
The cloud storage market is highly competitive, with numerous providers vying for market share. Many of these providers engage in a price war, driving down prices to attract customers. Wasabi has recognized the limitations of relying solely on low prices as a competitive advantage. Scott Sinclair, practice director at TechTarget’s Enterprise Strategy Group, emphasizes that vendors need to find additional use cases and features to stand out in the market.
Curio AI’s Technology and Capabilities
Curio AI’s technology utilizes machine learning (ML) to create a detailed index of video content stored in Wasabi’s object storage. This index includes a second-by-second analysis, enabling users to quickly find and identify specific scenes, faces, logos, and other important data points. Additionally, Curio AI’s technology can detect and transcribe speech across 50 spoken languages.
Integration and Pricing
Wasabi plans to integrate Curio AI’s capabilities into its object storage service in early 2024. The company intends to sell the enhanced service as an add-on to its existing storage offering, both directly to customers and through channel partners. The specific pricing for Curio AI’s features has not been disclosed, but Wasabi is exploring the addition of more features and capabilities to its storage service in the future.
Wasabi’s Vision and Future Plans
Wasabi’s CEO and co-founder, David Friend, expressed the company’s vision to become the leader in cloud storage. He emphasized that Wasabi’s focus is on scaling up and achieving parity with industry leaders in terms of features and functionality. The acquisition of Curio AI is seen as a significant step towards this goal, allowing Wasabi to offer differentiated services that cater to the needs of media industries and other data-intensive workloads.
GrayMeta’s Focus on Unstructured Data
GrayMeta, the former parent company of Curio AI, has a strong focus on unstructured data, particularly in the media industry. Aaron Edell, the company’s founder and former CEO, explained that unstructured data, such as video files, presents a complex challenge for testing and building machine learning capabilities. The acquisition of Curio AI by Wasabi will allow GrayMeta to continue its focus on unstructured data while Wasabi integrates Curio AI’s technology into its cloud storage service.
Conclusion
Wasabi’s acquisition of Curio AI marks a significant milestone in the company’s journey to becoming a leading provider of cloud storage solutions. By integrating Curio AI’s machine learning technology, Wasabi aims to differentiate its service and cater to the growing demand for video analysis and metadata extraction capabilities. This move reflects the evolving landscape of the cloud storage market, where providers are increasingly looking beyond low prices to offer value-added services and features that resonate with customers.