You may remember Pinata Founder Kyle Tut from last year’s startup showcase, where he talked about lessons learned in customer discovery for another concept.
Kyle, and cofounder Matt Ober, are masterful at listening to the market, iterating on customer pain points and turning their product into the go-to solution.
Pinata is living proof of that.
Rewind back to 2006, the majority of data (71 percent according to CacheLogic) changed hands in a peer-to-peer model — think Spotify early on. However, P2P technologies had difficulties managing and monetizing data control, giving rise to the centralized cloud model.
Now, companies and users are getting smarter, and in some cases mad about vendor lock-in and data silos inherent to the cloud model. With a vision to be the platform that equitably transacts the world’s data and gives users control of that data, Pinata aims to solve the downsides of the centralized cloud.
Kyle and Matt recognize that less than 20 percent of the world’s data will be housed in data centers by 2021 while over 80 percent (according to Cisco) will be stored on individual devices.
So why is our data still bottlenecking through those data centers?
This massive shift in data storage has created a wedged open door for Pinata to enter. Pinata leverages IPFS for distributed data movement while allowing that movement to be transacted. This unique revenue model creates returns for Pinata, the data originator and the data mover.
Pinata has grown users 30 percent month-over-month consistently. And there are no signs of slowing.