Tech

Cloud API firm Kong exceeds $100 million in revenue

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In 2010, Augusto Marietti predicted the extensive use of open application programming interfaces (APIs) in cloud computing. More than a decade later, his forecast has become a reality. On Wednesday, cloud API technology company Kong Inc., which Marietti co-founded, announced that its annual recurring revenue has exceeded $100 million. The firm started as an open-source endeavor called Kong, incubated within API marketplace Mashape Inc. As the demand for seamless connectivity and integration between various cloud-based services and applications continues to rise, Kong Inc. has managed to solidify its position within the competitive marketplace. The company’s success is attributed to its robust and scalable API management solutions, enabling customers to optimize their cloud infrastructure and adapt to ever-changing technological landscapes.

Kong Gateway’s success

Now serving as the co-founder and CEO of Kong Inc., Marietti envisioned that APIs would significantly influence the cloud computing and enterprise sectors. Illustrating this foresight, Kong Gateway, the company’s unified cloud API platform, has experienced substantial expansion. This increase is credited to a multi-decade transformation in creating enterprise software platforms, moving from monolithic systems to cloud-native microservices structures. As a result of this shift, businesses have been able to optimize performance, reduce costs, and improve scalability by leveraging the power of APIs. Marietti’s vision for APIs has thus proven to be an essential component in the evolution of the modern tech landscape, with Kong Gateway leading the way in simplifying API management and providing seamless connectivity across various platforms.

In the future, Kong plans to capitalize on implementing generative artificial intelligence. This innovative technology can revolutionize various industries, from robotics to human-computer interactions. By integrating generative AI into its operations, Kong aims to provide advanced solutions that improve efficiency and expand the possibilities of real-world applications.

The rise of tiny language models

Marietti expects tiny language models (TLMs) – smaller, data-specific language models – to gain mainstream popularity in the API context. As TLMs are tailored to specific domains, they can offer greater efficiency and accuracy in generating responses, making them more suitable for specialized applications. The rise of these smaller models may also address environmental concerns, as they require less computational power and energy consumption than their larger counterparts.

Featured Image Credit: Photo by ThisIsEngineering; Pexels

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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