Ted Schlein, a managing partner at Kleiner Perkins Caufield & Byers, said the value created by companies in cloud services, data virtualization and mobile computing will be 10 times larger than that of the Internet.
“We have never seen anything like this in the history of technology,” said Schlein, whose venture-capital firm has invested in companies such as Jive Software Inc. (JIVE:US) and Twitter Inc.
It’s rare to have three simultaneous transformations going on in corporate computing, Schlein said at the Bloomberg Enteprise Technology Summit hosted by Bloomberg Link in New York today. Companies are trying to figure out where to store their data inexpensively and securely while letting their employees access it on smartphones and tablets like Apple Inc. (AAPL:US)’s iPad.
Venture capitalists are backing entrepreneurs trying to meet these challenges as they watch stocks jump in initial public offerings by enterprise companies like Splunk Inc. (SPLK:US), which analyzes web data, and Jive, which makes social tools for business.
“You get enough of those high-profile, high-liquidity events and people start to recognize,” Schlein said.
To contact the reporter on this story: Sarah Frier in New York at email@example.com
To contact the editor responsible for this story: