Basho Technologies IP Assets Acquired by Bet365

Founded in 2008, Basho Technologies Inc. finally raised a bit more than $60 million in nine rounds and was a recognized and respected database player in the distributed area aka NoSQL category with the Riak product.

The company has developed three products:

Riak KV for Key Value, the NoSQL engine, put in open source in 2012,
Riak CS for Cloud Storage placed also in open source early 2013, and
Riak TS for Times Series to address time data in IoT world.

We mention here the fact that Basho extended the Community edition – open source flavor – with an Enterprise edition with specific features and services, supports, etc.

This tentative with the open source path to save Basho’s mission indicated that difficulties started already in 2012 having some tough times to create some differentiators with the gorillas of the category.

Trying to elaborate a rescue plan, Basho was confidential and didn’t publish any PR since September 2016. Again it illustrates the serious difficulties the company had to sustain the business since 2015. It’s a shame as we see some other players succeed such MongoDB even doing an IPO, Aerospike, Couchbase, Crate, DataStax, InfluxDB, MarkLogic, MemSQL or Redis. But as object storage category, a close technology, there are too many players and some of them suffer. In NoSQL, Basho is one of these, in object storage, along with Formation Data Systems, Coho Data or Skylable and even Basho if we consider its CS product. Some other chose a different path and accepted proposal such FoundationDB acquired by Apple in early 2015.

And the story ended in the August 2017 with the acquisition of some IP assets of the bankrupt company by Bet365 Group Limited, the online gambling company, for an undisclosed amount. Still a family-run business based in Gibraltar and Staffordshire, UK and funded in 2000, it is one of the largest privately-owned companies in the UK, employing more than 3,000 people. It was one of the top users of the Enterprise edition of Riak. Riak will continue its life under the open source umbrella with no separation between community and enterprise editions.

Read also:
Basho Introduces Riak CS 1.5
Distributed object storage software
2014.08.14 | Press Release

Basho and Seagate Partner
To deliver scale-out cloud storage with Kinetic and Riak
2013.10.31 | Press Release