Oracle founder Larry Ellison said his company is expanding its cloud-computing service, taking aim at market leader Amazon.
In what Ellison calls a really big deal, Oracle has unveiled 24 new cloud-computing products that offer online storage and the ability for users to run applications entirely in the cloud. This is part of a larger expansion for Oracle, which is shifting its database and customer relationship management business to the cloud.
Oracle Cloud Platform, which the company announced last fall, is in direct competition with Amazon s Web Services, the leader in cloud-computing capability for customers.
The new archive storage service goes head-to-head with Amazon Glacier and it s one-tenth their price, Ellison said during a webcast presentation Monday.
Oracle has been earning $2.3 billion a year in cloud revenue, based on last quarter s figures, according to Reuters. Amazon and Microsoft earn about $6.3 billion each in cloud revenue per year.
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