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Internxt, the startup that relies on the blockchain to compete with Google or Microsoft

Internxt is a Valencian startup dedicated to providing services in the cloud. Barely two years old, the technological platform created by Francisco Villalba has managed to attract more than a million users. Since wayrathe technological hub of Telephoneuntil Juan Roigowner of MercadonaInternxt’s proposal to achieve a safer Internet with greater privacy has captured the attention of top-tier investors within the Spanish ecosystem.

To do this, the Valencian entrepreneur makes use of his platform cloud of the blockchain technology, the blockchain system used in the world of cryptocurrencies. Villalba studied International Business Administration in Rotterdam and worked for four years at Hostinger, a cloud computing company that gave him the necessary knowledge to embark on his own project.

“When I finished my degree, I set up Internxt with the idea of ​​creating an Internet centered on users and their privacy and not being a means to an end,” explains the CEO to Investments. In a digital environment dominated by large multinationals, the billions of pieces of data that users upload daily are part of a cake that these companies share with the aim of making a profit by selling it to third parties.

“Right now you go on the Internet and use services of Google, Amazon or Microsoft, which are services for a purpose. What these companies want is to collect your information to sell it and do business. I believe that it is very important to create services so that the user can enjoy freely without selling his soul to the devil“, he points out.

BLOCKCHAIN ​​TO GUARANTEE SECURITY

In this sense, to carry out the idea of ​​creating a cloud storage service that more efficiently protects user privacy, the blockchain is the perfect system. “We use decentralized technology. what we do is encrypt and fragment the files, which are distributed through different servers to ensure that it is encrypted and distributed around the world. In short, make it more complicated for the hacker to steal private information”, he assures.

And it is that, the systems that use the big technology companies have proven to have flaws and not be infallible when it comes to protecting its users. Examples such as the leak of intimate photographs suffered by Jennifer Lawrence, Kim Kardashian and other personalities in 2014 through Apple’s iCloud platform give a good account of this.

“These companies store your data in an encrypted way, but they have a decryption key with which they can be accessed. We encrypt everything from the client side, the data is fragmented from your view and encrypted file fragments remain on the server. If a hacker wanted to enter the server, they would access encrypted files that are uselesswhile in the rest of the systems the opposite happens”, he explains.

MORE THAN 3 MILLION EUROS AT THE END OF THE YEAR

Villalba started by creating Internxt Drive, an alternative to Google Drive, and now they also offer services such as Internxt Photos and Internxt Send, which is an alternative to the We Transfer file transfer service. The company was born in Lanzadera, Juan Roig’s startup accelerator, where it entered the traction. It is currently one of the firms in which Roig himself, through his investment vehicle Angels, is a capital partner.

They have other investors like wayraOcean VC, or The Venture City and currently have a valuation of 40 million euros. According to the entrepreneur, Internxt expects to invoice more than 3 million euros at the end of this year with a gross margin of 80%. “We have multiplied by seven or eight the turnover of last year, a growth of 1,000% from one year to another,” he indicates.

As for continuing to grow through more venture capital, he does not rule out continuing to broaden horizons and resort to more rounds of financing. “We are not closed to more investors entering. if we find partners adequate, we are open to the entry of new capital and powerful partners”.

Likewise, most of its clients come from the United States and the rest of Europe. Expand the workforce from 30 to 50 people in 2023 or launch more products in your suite, such as an email service, are the short-term goals that the entrepreneur has in mind. However, the most ambitious goal is to continue growing at this rate in order to compete with the great technology companies of Silicon Valley in the future.

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