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Baqend
Location: Hamburg, Germany Germany
Founded in: 2014
Stage: Revenue generating
Number of employees: 6-15
Short URL: vator.co/baqend
Referred by: Tech.co
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Baqend

Building a faster web.
Startup/business
Hamburg, Germany Germany
https://www.baqend.com/
  • About
Company description

Did you know that 100ms of page load time cost 1% revenue (Amazon study)? Baqend develops a cloud backend, to help programmers build instantly-loading websites with a novel caching algorithm. We help digital companies, agencies, startups, publishers, e-commerce providers and developers create websites and mobile apps with higher productivity and we guarantee unprecedented performance regarding response times and scalability. To this end, our Backend-as-a-Service provides ready-to-use, highly accelerated APIs for data and file storage, user management, full-text search, analysis algorithms and real-time queries. Baqend is a spin-off from database research at the University of Hamburg. Hundreds of applications are already built on our platform. The underlying caching technology is backed by 20 man-years of research, numerous scientific publications, and three Ph.D. theses. On average, Baqend outperforms other vendors by a factor of 1540%, see the comparison at benchmark.baqend.com.   Baqend addresses the 1.3 billion USD Backend-as-a-Service (BaaS) market with a focus on data-driven, performance-critical and scalable applications (e.g. shops & social networks). The team of 11 people has a strong background in databases, machine learning, and web development.   Our mission is a web without loading times. We want to provide developers with the tool to achieve that.


Team
Business model

Page load times have an immense impact on user behavior and business metrics. Amazon for instance found that already 100ms lost during page load reduce revenue by 1%. The Aberdeen Group found that if a website takes 1 second longer to load, conversions will decrease by 7%, visits by 11% and user satisfaction by 16%. For a website that has a daily revenue of 100.000 USD, the result is a yearly loss in revenue of 2.6 million USD. Thus, even small improvements in page load time significantly boost user satisfaction, conversions, revenue and traffic.

 End users are usually only subconsciously aware of this effect: In A/B tests, Google compared user behavior for displaying 10 versus 30 search results. Even though users said they preferred 30 search results, traffic dropped by 20% in this group. The decrease was caused by a 500 millisecond slower page load that spread latent dissatisfaction and high bounce rates. There are many more studies showing similar effects. However, not only user behavior is determined by speed, also search engines now include load time as a primary factor of ranking.

Our goal therefore is to solve the latency problem for websites and apps in an application-independent fashion.

 

Competitive advantage

Baqend is the first cloud backend for mobile and web applications that enables customers to achieve imperceptible load times – and that even irrespective of their users’ locations and the amount of traffic. The underlying caching technology is backed by 20 man-years of research, numerous scientific publications, and three PhD theses. We have an open-source and publicly available benchmark (benchmark.baqend.com) showing that we outperform our competitors by 1540% – averaged over user locations all over the world.

 Baqend’s vision is to enable developers to build applications with loading times below human perception. Through intensive research and development at the database research group at the University of Hamburg (project "Orestes"), we could derive techniques to solve this problem. The technical core of Baqend is the Cache Sketch method, which we employ to globally achieve instant page loads.

 

An example of this technology in action is the online shop of Thinks. The company participated in a TV show with 3.5 Million viewers. While most of the competitors went offline, the Baqend-based shop achieved load times of far below one second (10x faster than Amazon) at 50K simultaneous users. This yielded a conversion rate of 7.8% – an order of magnitude better than predicted by experts.