Cloudflare Announces R2 Storage; Rapid and Reliable S3-Compatible Object Storage Designed for the Edge

Rhea-AI Summary

Cloudflare, Inc. (NYSE: NET) launched R2 Storage, a cost-effective solution for developers to store and manage large data volumes. This service eliminates egress fees and allows for automatic data migration from S3-compatible services, enhancing convenience. Cloudflare aims to provide the least expensive option for object storage, at least 10% cheaper than S3, while ensuring high performance across its edge network. The R2 Storage also supports data replication across regions, offering businesses flexibility in data management.

Positive

• Elimination of egress fees for R2 Storage will significantly reduce overall storage costs for developers.
• R2 Storage is positioned to be at least 10% cheaper than Amazon S3, enhancing Cloudflare's competitive edge.
• Automatic migration from S3-compatible services simplifies the transition for developers.

Negative

• None.

Now developers will be free to focus on innovation instead of worrying about the costs of storing their data

SAN FRANCISCO--(BUSINESS WIRE)-- Cloudflare, Inc. (NYSE: NET), the security, performance, and reliability company helping to build a better Internet, today announced Cloudflare R2 Storage, a better way for developers to store everything they need with automatic migration of data from S3-compatible services to make switching easy. Cloudflare R2 Storage, designed for the edge, will offer the ability to store large amounts of data, expanding what’s possible with Cloudflare while slashing the egress bandwidth fees associated with cloud provider storage to zero.

In order to build websites and applications, developers need a place to store photos, videos, and graphics that is quickly and easily accessible. When cloud storage first evolved it was a huge step forward in terms of providing that fast, flexible, and scalable storage for developers. However, increasingly egregious bandwidth pricing has made cloud storage an expensive headache for some developers, resulting in vendor lock-in. Cloudflare’s mission is to help build a better Internet, which means the company is focused on making the Internet faster, safer, and also more affordable for everyone.

“Since AWS launched S3, cloud storage has attracted, and then locked in, developers with exorbitant egress fees,” said Matthew Prince, co-founder and CEO of Cloudflare. “We want developers to keep developing, not worrying about their storage bill. Our aim is to make R2 Storage the least expensive, most reliable option for storing data, with no egress charges. I’m constantly amazed by what developers are building on our platform, and look forward to continued innovation as we expand the tools they have access to.”

Cloudflare took the first step to address egregious egress charges in 2018 by creating the Bandwidth Alliance, a group of forward-thinking cloud and networking companies that are committed to discounting or waiving data transfer fees for shared customers. Cloudflare R2 Storage will push this commitment even further, adding automatic migration of data from S3-compatible services and providing developers a highly performant, object store — minus the egress fees.

Cloudflare’s R2 Storage will allow developers to:

• Slash their cloud provider egress and storage bills: Cloudflare’s goal is to make R2 Storage the least expensive option for performant object storage, no matter the scale. That's why Cloudflare plans to eliminate egress fees, deliver object storage that is at least 10% cheaper than S3, and make infrequent access completely free for customers.
• Take advantage of the performance of object storage built with Cloudflare’s edge network: By leveraging Cloudflare Workers and Durable Objects, R2 will provide low latency, high throughput storage for the most demanding applications.
• Migrate data automatically from other providers to Cloudflare: Cloudflare R2 Storage will include automatic migration from other S3-compatible cloud storage services that migrate data from providers as it’s requested, making saving on egress bandwidth bills as easy as setting a target bucket.
• Store application data wherever you need to across the globe: R2 will replicate data across multiple regions and support jurisdictional restrictions, giving businesses the ability to control where their data is stored to meet their local and global needs.
• Unlock the power and scale of Cloudflare Workers within their applications: R2 Storage will be fully integrated with the Cloudflare Workers runtime, making building data pipelines and manipulating objects incredibly easy.

To learn more about Cloudflare R2 Storage and Cloudflare Workers, please check out the resources below:

• Blog Introducing R2 Storage
• Cloudflare Workers
• Birthday Week Landing Page

About Cloudflare

Cloudflare, Inc. (www.cloudflare.com / @cloudflare) is on a mission to help build a better Internet. Cloudflare’s suite of products protect and accelerate any Internet application online without adding hardware, installing software, or changing a line of code. Internet properties powered by Cloudflare have all web traffic routed through its intelligent global network, which gets smarter with every request. As a result, they see significant improvement in performance and a decrease in spam and other attacks. Cloudflare was named to Entrepreneur Magazine’s Top Company Cultures 2018 list and ranked among the World’s Most Innovative Companies by Fast Company in 2019. Headquartered in San Francisco, CA, Cloudflare has offices in Austin, TX, Champaign, IL, New York, NY, San Jose, CA, Seattle, WA, Washington, D.C., Toronto, Lisbon, London, Munich, Paris, Beijing, Singapore, Sydney, and Tokyo.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements involve substantial risks and uncertainties. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expect,” “explore,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” or “continue,” or the negative of these words, or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. However, not all forward-looking statements contain these identifying words. Forward-looking statements expressed or implied in this press release include, but are not limited to, statements regarding the capabilities and effectiveness of Cloudflare R2 Storage, the potential benefits to customers of using Cloudflare R2 Storage, the timing of when Cloudflare R2 Storage and the various features included in Cloudflare R2 Storage will be generally available to all current and potential Cloudflare customers, Cloudflare’s technological development, future operations, growth, initiatives, or strategies, and comments made by Cloudflare’s CEO and others. Actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in Cloudflare’s filings with the Securities and Exchange Commission (SEC), including Cloudflare’s Annual Report on Form 10-Q filed on August 6, 2021, as well as other filings that Cloudflare may make from time to time with the SEC.

The forward-looking statements made in this press release relate only to events as of the date on which the statements are made. Cloudflare undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. Cloudflare may not actually achieve the plans, intentions, or expectations disclosed in our forward-looking statements, and you should not place undue reliance on Cloudflare’s forward-looking statements.

© 2021 Cloudflare, Inc. All rights reserved. Cloudflare, the Cloudflare logo, and other Cloudflare marks are trademarks and/or registered trademarks of Cloudflare, Inc. in the U.S. and other jurisdictions. All other marks and names referenced herein may be trademarks of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210928005282/en/

Daniella Vallurupalli

press@cloudflare.com

Source: Cloudflare, Inc.

FAQ

What is Cloudflare R2 Storage and how does it benefit developers?

Cloudflare R2 Storage is a data storage solution that eliminates egress fees and provides automatic migration from S3-compatible services, making it cost-effective and convenient for developers.

When was Cloudflare R2 Storage announced?

Cloudflare R2 Storage was announced on September 28, 2021.

How does Cloudflare R2 Storage compare to Amazon S3?

Cloudflare R2 Storage aims to be at least 10% cheaper than Amazon S3, with no egress fees, making it a more economical option for developers.

What are the key features of Cloudflare R2 Storage?

Key features of R2 Storage include the elimination of egress fees, automatic migration from S3, performance enhancements via Cloudflare's edge network, and global data replication capabilities.

What is the stock symbol for Cloudflare?

The stock symbol for Cloudflare is NET.