>>VM is one of the more interesting stories we've covered in the past decade. Born in 2006 with a simple premise to make backing up virtualized systems easy, fast, consistent and cost effective. The company's timing was perfect as it rode the coattails of the virtualization trend with a laser focus on developing great products that just work. That's the tagline fast forward to 2021 and the team has surpassed the billion dollar mark in revenues and is transformed into a leading the, leading the number one independent pure play company for backup and data protection. Software company is expanding its tam extending from its on prem routes into cloud, cloud data backup containers and SAS data protection and with me to talk about its progress and how it thinks about the future of Bill Largent is the Ceo and chairman of VM and Jim Krueger. The CMO at the company. Gentlemen welcome, Great to see you again. >>Hey, great to see you again. Dave. >>Thank you, Dave, Great to be here. >>It's great, great introduction but I appreciate that set up >>following you guys for a long time but you know, you don't sit still so give us the business update. I mean you guys are cranking you just put out a press release on your progress. You're pretty transparent for a private company. We love that. But give us the update bill. >>Yeah, thanks very much. I'll do that really. We're pretty excited about the press release. We said Q one how we're 25% up air our growth, we've made a great transition with our team um super strong on our performance, our economic performance. We like being transparent were transparent with Clearly our owners now insight venture partners and that's been a big transaction that occurred in the last 15, 14 months. And we're we're transparent with our customers, our partners, our distributors, so and our vendors. So we're just that way we like to make sure we're good partners with all those along the line and we care quite a bit about him. So I think that transparency helps us with our customer base and where we're going with our product and what we've had to offer. We're now over 4500, employees strong around the globe. 40 plus countries operating uh, well, in all those jurisdictions with the covid being coming out of, I would say, coming out of hopefully coming out of the rough time period from from the geographical geopolitical covid issues. So we believe we've done extremely well through then businesses continued to grow for us. So we're really excited about where things are, insight has done a great job and helping us advance our business and thinking about looking at new tams to go after. And we're pretty excited about it. So. Well >>I had 13 consecutive quarters of double-digit growth for a company of of of your age and size is is very impressive. You don't see that often. >>Yeah we've we work pretty hard at that. It's I'd say we really focus on that year to year even though our quarters just keep popping along very nicely for us. You know, starting back in oh six, having been around since then we did start at absolute zero. We didn't have a didn't have a bit in the bank at that time. Uh Now it's a whole different story with our second year over a billion dollars. And when you look at A. T. C. V. Kind of calculation and us transforming into an A. R. R. A. Heavy perpetual base. So we've transitioned with new product offering being all subscription base. So that's uh that's making us um making us even more competitive than than we have been passed. >>I like how you couch that because you don't want to be trapped into that, you know, the quarterly shot clock, but still it's quite impressive performance. And with the A. R. R. That sort of smooth things out, jim I want to ask you about vermin again, virtual this year, second year in a row. Uh You know, it's been it's been frustrating because we can't be face to face, but well, what have you learned about the sort of virtual events? How is it performed for you? Do you see that continuing in some way, shape or form when you get back to physical? How are you thinking about that? >>Yeah, we had, we had two major virtual events last year. And so to your point, we we did learn a lot in terms of what works, what doesn't work, and we've continued to refine refine the plans. Uh One thing that it does is it just really opens the doors for a much broader audience. Typically we get about 2000 ISH people Uh that attend in person for vermin. Uh and uh and last year we had actually about 28,000 people representing 150 countries that registered for the event, and we had over 11,000 that actually attended. Uh and the engagement was, was really good and we, we were our scores in terms of satisfaction, we're, you know, four plus out of five. And so I think we did a pretty good job, but we continue to learn one of the things that you need to do is you need to sort of shorten the agenda because the attention span is not not very long. So all of our sessions are 30 minutes or less and we've actually uh put it over two days where it's about 3.5 hours each day, so we try to keep it a little bit lighter. We still have 30 different breakout sessions. We have keynotes, um, uh, some great speakers that are coming, some great customers that are coming, but you have to integrate some fun, some incentives, things of that sort. So we've been creating a lot of buzz leading up to Vermont with um, a lot of social activity. We have some some new uh, VM Nike kicks that people can win, which has generated a lot of excitement uh, and uh, and we'll be doing a lot of incentives and prizes and things as a part of the event. Uh, so, so that that's a key learning that we, we, we know that people love and just creates a lot of us in addition to of course the great content >>VM has good swag too, is an analyst. I always appreciate that VM and pure storage as you guys are at the top of the living >>area and a >>big thanks for that. But I gotta ask you, so one of the hard parts because you guys are all channel, 100% channel have been from day zero. That's some, that's gotta be tough because we've been in this business a long time doing hybrid for a long time and the sellers love to be belly to belly. They never wanted sort of hybrid. So it's gotta be tougher for the partners as well who are big channel. So how do you integrate the partners? What can we expect, you know, in these types of things going forward? >>Yeah. So I can start with just with the man bill and then we can talk a little bit more, but for the moment we actually have a really strong partner registration, so partners are attending Vermont as well, we have separate sort of cordoned off content specifically for our partners, so they're definitely a key part of that. We have 38 uh sponsors uh that uh you know a part of our ecosystem uh and uh so you know, partners kind of overall are a really key part of iman in addition to to customers attending as well. Uh So that's one way that we continue to connect with with our partners >>bill, that's part of the tam expansion, obviously it's leverage. Right? >>Absolutely. It is and you know, we'll stay with that two tier distribution system that we have affected with those partners and distributors as to how we work through them. Uh Partners are absolutely key key for us all around the globe. Different kinds of partners in the U. S. A rather large wind sell a lot of small ones uh same in the media and same in A P. J. So we'll keep that network going. Why? Because they're they're an extension of the VM arm of our internal sales group that numbers well over 2000 of our people that focus on the selling. But the partners are key. They've adapted nicely I believe, to a lot of virtual events like we're going through now and they to sound like they're as excited as we are about getting things back in uh in person. >>So I always been fascinated by tam expansion. It's part of the Ceos job you have. You know, I love the fact that that incite the board promoted from within somebody. They tapped a Ceo who knew the business. You have to do a reset your at $5 billion Mantra. And so when you're thinking about your tam expansion, cast an acquisition cloud, uh, you guys have been into the SAS backup world for for a bit now it's starting to produce. How are you thinking about the future and opportunities ahead. >>We've got great opportunities with cast and so into the cooper Nettie space. That's a huge uh, market expansion for us in an evolving marketplace. So our goal was, let's be that thought leader. Let's get the best technology that's out there and then you'll see us execute really well. This on the sales side. This uh, this year also 2021 here and beyond the public cloud. Peace with azure with aws with our Google offering. So we're continuing to bring those up the up to up to speed in a sense of size because there's this tremendous future there, that's a big expansion of our team. Also I think Jim might talk a little bit about jumping into that security space a little bit. That is going to be big, It's big for us, It's a selling um selling feature that I think has come a long way. So it is about expanding that tam and our focus is always long term. It is, yeah, evaluation is important, but more important is that, you know, that long term customer service uh meaning new products for them like Office 3 65 that we brought out that has had tremendous growth for us. Uh so we're really excited about the growth, but again, our focus is on for that customer over the long term. It's uh it's years out, it's not the quarters and it's not about that valuation, it's really about how we keep them going in their business. >>So jim talk about that positioning, I mean, you're not a security company, you're not like building firewalls and and perimeters and so forth. But the notion of security and data protection plays in there. I mean, you think about these ransomware attacks, if I can actually recover from a ransomware attack, I got way more leverage and you're part of that recovery process. So those lines are blurring. How do you think about it? >>Yeah, that's that's definitely a key benefit that our solution provides in terms of protection from that. Uh And as we've had new releases into the market v 10 last year, the 11 this year, we've continued to up the ante relative to the protection from ransomware that's obviously a hot topic in the marketplace. And uh, and and we have some some great differentiators that we brought to market. And I think that that's part of why we're seeing the, you know, the strong growth, Uh, B 11, you know, Focus on ransomware, but over 200 new features and capabilities that we have brought to market to make it easier for our customers. We have kind of three key pillars around simplicity, flexibility, reliability, uh, and also just super powerful with the features and capabilities that we bring the market. So, uh, so we're seeing great traction there. Uh, and uh, and that's definitely an area that we're focused on. Uh, as again, we're not a security company, but we do protect from that. And some of the capabilities, you know, give you, if you do run into that situation, the capability to recover quickly and not have to pay a ransom And keep your business running, which is a key focus for us across all of our 400,000 plus customers. >>What about cloud? Cloud is a lot of people, you know, traditionally on prem vendors, they're like threatened by cloud. But clouds a gift for wien I mean it's like the internet is a gift is this big platform that's been built out, you can build on top of it. So how are you guys thinking about the cloud opportunity and the SAS data protection? >>Yeah, we want to go and >>Yeah, absolutely. Sorry, Jim. Yeah, it is a tremendous market opportunity for us. We've evolved as, you know, get back to our roots and 06, it was about um protecting those virtual workloads and we've evolved from there with evolved from there maintaining that that on print businesses is not going away. The public cloud businesses skyrocketed the private cloud business the same way. And we want to have products for all um all of those and the ability to move and move data's move, move workloads around, move those datas around, move that data around. So big piece for us, the casting piece, I keep getting back in how that might evolve with the SAs offering or not. Well, we'll tell over time period here as we work on that product roadmap. So, absolutely tremendous opportunity for us. >>Well, when you think about hybrid jim, I mean, the first thing that people say is for developers, containers, first thing you do is containerized the app and then you don't care where run anywhere right at once. Run it anywhere. That's a big opportunity. >>Yeah, so, so we're definitely focused on building a single platform for all environments. Uh So with the storage integration with the top three hyper scale ear's uh moving into kubernetes and containers, uh backup and protection. Uh So that that's a key part of our strategy. It's again to make it easy for customers To be able to manage all of their backup from one single console. Uh So so that's a key strategy and their own, you know, the research that we've done, I think, you know, due to Covid, we're actually seeing an increase in the move to the cloud, uh and we play in in in two key areas, ones with the hyper sailors and providing, you know, the backup and recovery within those environments, but then also with our service providers and as a service we're seeing really strong growth within that market and that ecosystem. So uh you know, working to to partner with them closely and continue to build that ecosystem and support them and their efforts to to uh to drive growth in the market as well. >>All right I'm gonna let you guys go the last question bill is so what's life like with insight? I know these guys are players. We've we've seen the moves they make is what's the future like? Is I. P. O. Still on the table? What can you tell us about life with insight? >>It's a great question. Well keep in mind we worked with insight in our prior entity uh starting in I think in 2002 we brought them in. So and our partner that's on our account has been with us since that time even though after we sold the business they were out of him. So uh No I'm really well they've been a big help their operations operationally efficiency, efficiently focused. I'd say they're helping us bring new ideas back to the M. And A activity back to your I. P. O. Question. I think that's an avenue for us. We clearly are pushing in that direction to get set up that way. What's it do for us? It gives us that bigger currency versus just cash. It gives you that stock currency to use on M. And A activity that you know I think you saw us do that with Kasten. Uh in the sense of acquiring M. And A. That's been different for vein. We build it from within that was a buy from outside. You'll see us do both both of those in the future. Very important I think uh you know without being too predictive I would say hopefully that's something you see in the I. P. O. Side that in the next 12 24 months a run like that. >>Well, Hey, uh, as an upside of observing the street wants growth, they want execution, they want consistency and you guys bring all those guys. Thanks so much for coming back in the Cube. Always a pleasure. And look forward to seeing you face to face. Hopefully before 22. >>It would be nice. >>All right. Thank you. Thanks. >>Dave. All right. >>You're welcome. Alright, keep it right, everybody. This is Dave Volonte for the Cubes, continuous coverage of them on 2021, the virtual edition, We're right back.

>> Narrator: From around the globe, it's theCUBE. With digital coverage of VeeamON 2020. Brought to you by Veeam. >> Hi everybody, welcome back to VeeamON 2020. My name is Dave Vellante, and you're watching theCUBE's coverage of VeeamON. This is the first time we've done Virtual VeeamON. We've got the Veeam power panel, Bill Largent, CEO, Jim Krueger, the CMOs, Danny Allen who's the CTO and Senior Vice President Product Strategy. All have been on earlier, guys great to see you. Thanks for coming back and digging out of the power panel. Appreciate it. >> Good. >> Thank you Dave. >> I'm glad to be here. >> Thank you Okay, I want to start off, Bill, get a business update. We've so I talk a lot about COVID. We can go back to that, but you guys, as a private company, you divulge more information, than most private companies. And we appreciate that as an independent but guys, if you would bring up that one slide. You shared this publicly a little earlier. I mean, you guys are a billion in revenue now, 21% annual recurring revenue growth, 375,000 customers, 97% year on year increase in your universal license bookings. Everything seems to be happening, Bill. What what can you tell us? >> Well we had a great first quarter also that we kicked off where we had our transaction with insight venture partners, which right in the middle of that quarter, at the end of it, we had that activity that went on, that one might think would have disrupted the business, it didn't, we had our plan for Q1, really excited about that. We announced our growth saw that here recently. We're really pumped into our second quarter. We managed to transition everybody out of offices. We probably had 75% of our workforce move. Yeah, they did that. We had a fantastic April. We're having a very good May. So it's just a great start with a great customer base. So I'm really excited about it. >> Yeah, you mentioned insight. We obviously covered that and reported on that. Insight, they like growth, not like the old school private equity, suck money out. They want growth, they want options down the road (mumbles) Maybe it's a rule of 40 rule, the type of company. So that's got to be exciting for you guys and your employees. >> Yeah, I think it's pretty exciting. Few of us have been around the insight team since 2002. So a very well known group of individuals to us. They are focused in the software space and know the infrastructure space really well. My triple that hour our lead on the insight team and his his staff is that's a move into, as we move into it, stepping up and moving into our very revenue focus versus part of a total contract. But nice resource to have for things that we might want to do in the future related acquisitions. So we're really excited about it. >> I mean, if I'm in VC right now, I'm looking at SaaS, I'm looking and it's software, I'm looking for companies that have an annual recurring revenue model I'm looking for adopting of products and those kinds of of KPI's and you guys fit that bill Maybe a larger size and obviously in the early stage startup but that's kind of the profile of the the company that you want to invest in 2020s, isn't it? >> Absolutely, and I'd also say it's the kind of company we want to invest in, in the future as we go forward to bring in new technologies and expand markets. Addressable market back to comments, we had discussions on, what's it look like in 2030? And it's like, okay, those are we're heading. >> So Danny, Pat Gelsinger is famous on theCUBE for saying that, look, if you don't ride the waves, can it become driftwood. So what are the mega trends that you guys are riding today and that you're seeing in the future? We'll keep you ahead of the pack. >> Well, we clearly talk a lot about cloud data management. So act two for us is not just moving from perpetual licensing to subscription and evolving with American at a business level. It's also at a technical level. And so we invested heavily, as we demoed earlier today, Veeam backup for Office 365 version 5. An important point act two for us is not just product. There's also product delivery. That's version 5 of a release of a product to that came out three years ago. So the backup for office 365, we showed you Veeam backup for AWS. And you saw from Anton as well supporting Google cloud storage and supporting all of the major cloud providers. So for us to not just ride the wave, but actually be ahead of everyone else it's to embrace cloud data management and give the customers what they really need. >> Well, I think you guys are in a unique position too. I mean, if you guys obviously sell on-prem, but if you're they're an on-prem infrastructure company, really living on box margins you can talk the cloud talk, but it's not necessarily a tailwind for you guys? So Danny, how is cloud, right how cloud is it tailwind for Veeam versus some of the other legacy players, >> Well, Veeam has always been, we always highlight simple, flexible, reliable, but one of the, the parts of flexible of course, is where it's being software defined. And we've been software defined from the very beginning. And if you're in a world where you have to go take a box, plug it into the data center and rack and stack it and be there physically. You're not going to survive in this type of environment. So being software defined help us, not only when the data center, but to help our customers as they go through that evolution. On-prem too, maybe just storing backups in the cloud, actually running the workloads in the cloud and protecting there. >> Well, so Jim I want to turn it to you sort of thinking about the Veeam brand. we talked earlier about how you guys have always punched above your weight, famous parties and so forth, but now billion dollars now entering a new era. It's ironic that we're now doing virtual events. So no big giant party this year, but I feel like, I mean, you guys are what, 14-year old company now, and kind of grown up you three and your colleagues are bringing you lots of adult supervision. How should we think about the VeeamON or Veeam brand going forward? >> Yeah, no, I think the Veeam brand is critically important because there's just such a strong affinity and connection with customers. And I think one of the challenges as you get larger and go from 1 billion to 2 billion, a lot of companies miss the beat relative to staying connected to their customers. And that's something that we're putting a tremendous amount of focus on that first slide that you flashed up no 91% customer satisfaction, a 75 net promoter score, which is three and a half times industry average. I think our key to success is not only bringing great products, the market, but looking at the holistic picture relative to supporting customers and customer satisfaction, which is a key driver of the company. well, it will help us to continue to build on the brands and have the best brand in the market. >> Well, what I want to come back to is the marketing whiz in the panel. I mean, you think about digital. We feel like the world is going to be one in digital in the next a decade. I take the pick the GNC example. And you think about just even a term like customer relationship management, we all use CRM systems. I'm not sure I want a relationship GNC, but I do know this, I want a good deal, right. If they're going to make me an offer, I'm going to look at that and these other brands, that's digital that is having infrastructure and data That's obviously protected to be able to offer that at the right time, for the right customer, so that they can take advantage of it and have the right candles. I wonder if you could talk about what you see as a marketing pro just in terms of digital and that customer intimacy. >> Yeah so I think it it's a multifaceted, I think one of the key things that again Veeam does that's different than other companies is that we, we have a direct connection with our customers. So in our head of product management sends out an update every Sunday, and it goes into quite a bit of detail around sort of how to deploy this, how to deploy that. And really creating a digital journey for the customer from a marketing perspective, because yeah, like within any situation, you don't want to talk to a salesperson right off the back because you know, they're going to try to sell you. So you want to do something investigation, you need the contents and information to help you move along that journey until you get to the point where, okay, now it's time, I've kind of narrowed it down and I need to talk to someone to give me some more information. So I look at one of the key differentiators of Veeam is that digital experience which I think from the founding of the company that Rattler put into place has carried us forward. And when we continue to put a lot of focus on that digital experience, which I think gives us definitely a leg up on the competition. >> So bill, you got to place bets as the CEO. I'm interested in where you're placing bets. I mean, you've made some pretty substantial investments in your partner network. You've got some big names partners that are okay, you're moving a lot of products through those guys, obviously your heritage as a company is steep. And technical development you are very successful sales organization, but sir, where are you placing your chips on the table these days? And maybe especially in the context of this pandemic, if anything changed in your thinking. >> Yeah, well the bets will always be placed on the product side of it. That's a big, so your products. You go partners and you go our employees and those are the big bets that will make, what are we doing on the partner side we're continuing pretty aggressive activity and making sure these partners have a simpler place as I've discussed before to do business with them. It's more challenging the larger we get. But yeah, we'll keep that focus on. The product offering has been a again, always go back to any of our taglines. It just works, put us in the lab, we're going to win. We're going to win that technical decision a process. And then we're putting it up pretty big bets on our employee base, we're all over the world 4,300. The I think the decisions we have, like a lot of companies have moving forward are going to be, where are you going to work from? You're going to work from that home office. So you're going to combine it back into the office or are you going to not, you're just going to yeah. Do you're going to go back the way things are. I don't think that's going to happen at all. So take bets will always be on bringing good product to market like technical decisions. >> So let's, let's talk to Andy about the product. I mean, you've I saying you've grown up, you've gone from yeah relatively narrow portfolio to now expanding a lot of different use cases, many several different clouds on-prem hybrid, et cetera. How do you ensure it, Danny, from product standpoint That you don't just get a, a collection of point product, but you actually have a platform that even, for instance, your licensing model very easily. support that notion, how do you ensure that more of a platform, if you will, then just the, a bunch of selection of product, >> The answer to that would be focused maniacal focus. So it's interesting that you brought up licensing. So one of the things that we're very focused on is making that licensing can move across all these different types of infrastructure. So the universal license allows you to do that. You can move a workload from physical to virtual, to cloud, to back the application services call with a single license. But we also do that product level too. One of the interesting things that we've been focused on is it's something internally, we call it the Veeam integration platform that enables you to have a central common control playing across the entire organization. But yet you can deploy in the need of environments that make the most sense. So if you think about what we showed you earlier today with beam backup rate AWS, you're running on an interface that you deploy out of the AWS marketplace, but that product actually integrate back into Veeam availability suite. So that's true of being backup for AWS, Roger being backup from Nutanix. Every time we add a new one capability platform, whether it's fast or virtual or cloud, we make sure that it's still cause that central connection to the main control plane. And that's why we call this five data management, because it gives you that data management cross all of these different infrastructures. It's clearly not easy to do, but the focus that we have good on this result, then our customers, ultimately, >> So I want to ask you guys about culture, Jim, I start with you, I mean, a lot of people, obviously story averted, or asking this theme, still going to have parties you got your two founders and sort of set good. Ratt would always be right there in the mix lap. Last one to leave very hard charging and that's kind of steep in the Veeam culture, but I'm interested in, and if there's been any sort of discernible change, as you get bigger and bigger, how you were able to maintain that culture, what are some of the things that you want to keep, and maybe some of the things that you want to evolve. >> Yeah, no great question. And I think culture is I'm a big believer. Yeah. That culture can really differentiate a company in the marketplace and I think themes culture in the past has really done that effectively. And I think that's it shows in the success of the company. So I definitely see it as as my job, along with the rest of the executive team to continue to, to carry that torch forward. one of the things that I learned coming to Veeam was, was really winning the hearts and minds of the customers that you're serving. And so that can be anything from a party being totally open to your customers, listening to your customers, I've given them different channels to give you a feedback and just being a company that's easy to do business with. I think it's critically important. And those are some of the key things from a cultural perspective that's how we want to carry forward. You mentioned car charging, absolutely being aggressive in the marketplace. but bringing solutions to market really hit the sweet spot Relative to customer need, I think is again, one of the cultural pieces and that maniacal focus on customer satisfaction, which is absolutely key. >> So well, I wonder Bill, if you could comment, maybe in this context part of your job of course, is an expansion traditionally been a European based company moving So the US I'm curious as to what effect that will have both culturally and on Tam as well. You're extremely successful in, in overseas. Oh, of course, so there's maybe even more penetration within the US and obviously throughout the call, we've certainly talked a lot about cloud, but maybe your thoughts on it. >> Okay, Well, thanks very much. Hopefully you see no impact on culture, in the sense of our move from a European headquarters to a US headquarters. We definitely felt it important to bring it a us headquarters in place. We now have moved all us shareholders. our culture is really the built on core values that we develop back in 2012, that really the everything else branches off of innovate and iterate it's about everybody sells. We clearly add that yeah. A goal for everyone in the company and the fact that we also want to win. So we'll fight hard to win bringing it to the US okay. A lot of our competitors are based in the US we think we can even though we've got great numbers against all our competitors, we'll even bring the fight much harder. Now that we're in the United States as a headquarter place, change nothing else internationally, globally. >> So Danny, every I'll five or seven years or so Gartner or IDC or whomever without a service is that we just did a survey that yeah. X percent of the customers are going to rethink their backup strategies in the next 24 months. You see that literally every half a decade. so, well what's, what's the driving that now. I mean, certainly cloud is it which factor edge we're going to be talking about the edge for the how many years, and then, and it's really going to start to drive revenue at some point kind of like the cloud was 10 years ago. but so talk about how you guys sort of, are they relevant conversation and what customers should be thinking about in terms of those transitions? >> Well every customer says I'm going to reevaluate my backup solution every five or seven years, but the reality is what's happened. Yeah. Industry itself goes through transition. So we go from physical to virtual and as they go to virtual, for example, they say, Hey, I can't use my legacy providers. So I'm going to choose a new one. They choose Veeam. And then of course, we go to cloud and we're going to go to containers and we're going to go to edge. And every time he goes through those iterations, there is an opportunity for the next generation of platform to emerge. And so beam's focus here is to make sure that we're ahead of those trends to make sure we're thinking ahead of our customers. So right now, for example I spent an in order to in amount of time thinking about cloud and containers so that when the customer gets there, when they get the edge, when they get do all of these things, but they have a data management platform that protects them. And step one is always going to be the same. I always say the step one for every iteration of infrastructure is just ingest the data because you need to protect it. It's only after you protected and begin to manage it, be integrated into the business. Can you be into unleashed, but we go through this cycle over and over again. And ultimately it's the, the vendor, it's the partner that is most trusted, that wins as, as Jim alluded to our NPS scores for themselves, our customer base, right, sorry self our intimacy with the customers. Great. Awesome. So as long as we keep that close connection, then we think we're well positioned to the lead as we go through the next iteration of infrastructure. Okay. Let's talk about the competition, Danny. >> Let's stay with you. Okay. You've got some, well-funded not even startups anymore. Okay. Companies that are kind of going after the base, you've got a huge install base okay Of legacy companies. I mean, I think it's easier for, for some of those guys to attack sort of a box space, the solution, you guys are more software, but I'm sort of interested in take Danny on why the shiny new toys and that have obviously have momentum in the marketplace. >> Yeah, the shiny new toys, they come out with a solution that is very packaged up and black box. You can't actually customize it very much for the user need. And that's, we don't believe that that's going to work in the longterm. And the reason I say that, okay, the pandemic we're in, if you can't go into the data center to rack and stack a box, if you can't actually working with the infrastructure that's already in place, then you're not positioned to work well in the longterm. And, and so we have this unfair advantage we've been around for over a decade. We integrate with over 45 different storage vendors. That's not including the wild vendors all of our partners. And so we do have an unfair advantage with a history of all of these integrations, but that flexibility is really what our customers need. They don't want to be law into the data center. They don't know two, three years from now, their strategy might change. They might say, take the workload, moving to the cloud. And so if your whole focus is on selling your customers , something that I used them to their data center, that in itself is a challenge. And being software defined we're well positioned to make future for any evolutions that happened in America. Okay. So we're in a good place. I'm well, knock on wood, but I think we're going to keep going. >> Yeah. That's an interesting answer. Not one that I expected, but it's to make sense in the context with a QA we had with Andy Jassy a while ago. I was Kind of pushing them on the zillion APIs. And he basically had a similar answer. Obviously cloud services is different, but essentially saying, we don't know where the market's going. So we want to have very granular role at You're kind of a primitive level so that we have that flexibility and maybe there's a trade off sometimes just in terms of what you called out of the box, but it's a very handy Jessie like answer, it sort of strikes me. >> Well, it's certainly true that the customers don't know a year from now they've been using that hardware, but a year from now two years from now, we run into another market impediment. They might want that money back. They might want, you might want flexibility to expand into it, different geography or take advantage of the elasticity of the cloud and buying a piece of hardware. Just the very fact that you buy hardware that essentially ties you into that hardware, at least three years, probably being software defined, you can continue to reuse and leverage all the assets that you've already had committing to a lock-in period of time. >> So from a, from a marketing standpoint, Jim strategy, brand customer intimacy, what you're in. >> Well, Dan, you already talked a little bit about it in terms of kind of the, the three cornerstones, of how we think our simplicity, flexibility, and reliability. And as bill talked about when we get into now into a customer, and if they're testing us out trial and us out nine times out of 10, we're going to win because they see those three key things and those three key things we hear on a daily basis from our customers and how important that is. So we continue to build out on each of those the challenges, keeping it simple. And that's an area that we have to continue to focus on. but I think those are the key differentiators for us going forward. I think the flexibility piece is the integration with all the storage, our ecosystem of partners. Well, we have I think close to 40 partners that are sponsoring the Amman here. so that's a, that's a key differentiator because we work with basically everybody we're agnostic. and again, just easy to do business with an, a true partner. >> I got it. I got one more question for Danny, and then I want to ask bill to close, but okay. Guys, feel free to chime in on this one as well. But some of the things we haven't talked about about money , Danny containers, protecting containers the edge these are all sort of emerging opportunities. I know you've got some, yes, on the container side, the edge is early days. There's whole new models of computing potentially a lot of data going to be, we created, okay. Unclear how much is going to have to be persistent, but certainly would that much data the IDC forecasts, a lot of it's going to have to be. So your thoughts on some of those other emerging trends that we haven't talked. >> Well, the key to this segment of America are our partners Trust us. We're thinking about this ahead of when they will actually need it. And you're right. I think we're early days in containers. I think we're early days in edge. We don't know we have a partner ducks unlimited where they're storing data for 60 years. Use it from IOT sensors, keep it for 60 years because they don't know in the future, if that data is going to be relevant. And so our focus is to make sure that we're ahead of our customer base in terms of thinking of it, and then making sure that our platform supports what they need as they need it. You want to be careful about going too far in advance. Sometimes in the industry you hear about people who are talking about magic 60, Dustin's solving Crazy problems that our customers don't actually have. We're very pragmatic. We want to make sure that problems that we're addressing that are platform fundamentally addresses where they are today. And then also be in those discussions with them about where they're going to be tomorrow. >> Well, maybe some of that magic pixie dust go into the COVID vaccine. That would be good. They'll bring us home. So the virtual forklifts are breaking down, came 20, 20. What are the big takeaways from Europe? Your first VeeamON as CEO, but what are the big takeaways as the virtual trucks are pulling away? >> Yeah. Thanks very much for asking that question. We you know, we did do our first VM on, in 2014, and I can still remember when Ratner came to, I mean, let's do this. And it's like, Oh, you've got it. Excuse me. This is going to cost a fortune. So why would we ever end? And then he's obviously a right. It continues to be right. So I hate the story about Veeam is gross. And when you're growing, you got funds available. People interested you to innovate. You mentioned containers. Danny did also at Kubernetes and we've got our forensic cast and that are here with us. And yeah, those are all important relationships and will continue to develop relationships and . But why Veeam we've supported, we've got great customers for it. We have a gross engine, we're going to continue that we don't plan on being comfortable with where we are. We'll continue to enter in, go after it. Additional Tam, but we'll also take care of that core base we came from. So I'm really excited about, we had a lot of yep. A lot of great breakout sessions. I keep right. Okay. K was on, there was a lot of great ones. I did like the one though. And it was like, fall in love with tape all over again. So when I first saw that they brought it, I went running from my age, correct tapes and my John Fogarty NCCR I've found one. so had to get readjusted to not. So in any event, I do think, Nope. We like to have a lot of fun. You'll see that we get back See where we go as far as the virtual versus an onsite in the future, we landing on site when, and if so, you'll, and you're there you'll, you will be at the party. >> Yeah, indeed. And I, but I do think there's going to be some learnings that we carry forward and I think for awhile and maybe even perfect quite a long time, there'll be some kind of hybrid going on with the seem to live in a hybrid world. Guys thanks so much for coming to theCUBE and making this a successful power panel. It was really a pleasure having you. >> Great. >> Thanks for having me. >> Thanks. >> Thank you for watching everybody. This is Dave Vellante for theCUBE. Keep it right here. There are tenuous coverage, the VeeamON 2020, right back. (slow instrumental music)