Executive Chairman Larry Ellison said in a webcast that he wanted to compete with Amazon.com on price.
This was after announcing that Oracle would offer online storage and capability for customers to run their applications entirely in Oracle’s cloud.
This is all pretty new for Oracle, which is shifting its traditional database and customer relationship management businesses to the cloud.
The only problem is that Amazon Web Services is the market leader, followed by Microsoft’s Azure service and Biggish Blue. Oracle is very late to the party which has gone on without it and reached the stage where people are either too drunk to speak or have coupled off.
Oracle has imaginatively dubbed its cloud platform Oracle Cloud Platform, will provide a cost-effective alternative to Amazon, said Ellison.
“Our new archive storage service goes head-to-head with Amazon Glacier and it’s one-tenth their price,” said Ellison.
Oracle’s cloud business is growing quickly, running at a rate of about $2.3 billion a year in revenue, based on last quarter’s figures. However the rest of the company is not doing so well and reported a surprise fall in profits.