Amazon's Cloud Business Is Growing Like Crazy (AMZN)

Amazon's cloud business is growing like crazy, and could hit $1 billion in revenue next year according to analysts, Reuters reports. 

Right now Amazon Web Services, its cloud computing unit, is small enough that Amazon doesn't report its revenue, but according to estimates, it generated $500 million in revenue last year and will do $750 million this year--a 50% growth rate, which is impressive for such a large unit.

If Amazon really hits these milestones it will be a big event not just for the company, but for the cloud computing industry in general.

This Is What Amazon Will Be Like In 2030 →

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• Three Cheers For The Borders Liquidation!
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Amazon's Cloud Business Is Growing Like Crazy (AMZN)

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Verizon's 4G Network Is Growing Like Crazy (VZ)

Verizon has plans to roll out its speedy 4G network to another 21 cities beginning June 16, the company tweeted.

That's on top of handful of news cities added last week.

So far, our tests have shown Verizon's "4G" service to be faster than the other big three carriers. At times, it even outpaced our typical cable modem speeds.

Here's the list of cities getting 4G next month. We'll keep it updated as Verizon announces more today:

• Sioux Falls, SD

• Milwaukee, WI

• Madison, WI

• Flint, MI

• Grand Rapids, MI

• Fort Wayne/Indianapolis, IN

• Hartford, CT

• Erie, PA

• Dayton/Springfield, OH

• Penn State

• Greenville-Spartenburg, SC

• Harrisburg, PA

Don't Miss: The Top 10 Smartphones On Verizon Right Now

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• Wow, AT&T's 4G Network Is Going To Get Really, Really Fast
• 20 Secret Tips And Tricks To Get The Most Out Of Your Android Phone
• BALLMER: We're Adding 500 New Features To Windows Phones This Fall

Verizon's 4G Network Is Growing Like Crazy (VZ)

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Why It's Not That Crazy To Give A Startup $41 Million Pre-Launch (AAPL, GOOG)

Mobile photo sharing app Color just announced it raised $41 million in funding from marquee investors, Sequoia and Bain.

That's a lot of money for a pre-launch startup.

But actually, the raise makes plenty of sense.

The most important thing to remember is that Sequoia and Bain almost certainly bought preferred shares.

That means they will get the first $41 million dollars back in any sale of Color.

Considering Color has, right now, $41 million cash in the bank, it's almost a certainty that the startup will sell for at least that much money.

What's more, the guys behind the app have a strong track record of building and selling companies. They make money for VCs, so from that perspective it's not a massive risk for the investors.

Don't Miss: A Tour Of Color, The $41 Million App Everyone Is Freaking Out Over

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• JOHN BATTELLE: Here's Why Color Matters: Augmented Reality And Nuanced Social Graphs May Finally May Come of Age
• Take A Tour Of Color, The $41 Million App Everyone Is Freaking Out About
• How The #*&% Did Color Raise A Crazy $41 Million For Its First Round?

Why It's Not That Crazy To Give A Startup $41 Million Pre-Launch (AAPL, GOOG)

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How The #*&% Did Color Raise A Crazy $41 Million For Its First Round?

An iPhone photo app called Color announced last night that it raised $41 million from Sequoia Capital and Bain Capital pre-launch.

To use a favorite expression of Foursquare CEO Dennis Crowly, that's banana town.

We tested Color this morning.

It's OK.

How could this have happened?

A VC you've heard of but doesn't want us sharing his name for obvious reasons, has a purely speculative theory:

I just couldn't grok why the best early stage investor [Sequoia] would put that crazy amount of money in a pre-launch company and moreover do it alongside one of the worst [Bain].  But then figured it out. 

I have no facts at all about this but bet you Sequoia seeded it and then Bain came in at higher price and got them to agree to say they did it jointly.  Basically Bain paid $40 million to look Like Sequoia's peer and get Valley mojo they desperately need.  No other way this could have happened.  

Update: CNET's Caroline McCarthy tweets at us: "Sounds like a good theory, except that a Color exec told me Sequoia's $$ was nearly triple Bain's." So we're back to: HOW DID THIS HAPPEN?

Related: Take A Tour Of Color, The $41 Million App Everyone Is Freaking Out About

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• Former Lala Founder Bill Nguyen Just Scored $41 Million For His New Startup: Color
• Take A Tour Of Color, The $41 Million App Everyone Is Freaking Out About
• Introducing The Kind Of Partner Twitter Doesn't Want To Kill: Sulia

How The #*&% Did Color Raise A Crazy $41 Million For Its First Round?

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