EMC jettisons $76m into web 2.0 storage cloud
Money is like manure. You have to spread it around or it smells
EMC has grown bored of sitting on a fat pile of VMware IPO cash and reportedly dropped $76m for web-based automated backup outfit Mozy.
The service is one of dozens of start-ups offering online storage to consumers and businesses.
Mozy's biggest start-up rivals are Carbonite and AllMyData. All charge about $4 to $5 per month for unlimited backup.
The young guns have a slight lead on Google, which is still tinkering with Google Shared Storage, a backup service of its own that will eventually integrate with GMail and Google Apps. Inevitably, Microsoft's having a pop too with SkyDrive, which was made available in beta in August.
EMC and Mozy are yet to officially own up to the union. ®
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