Memeo

About Memeo

Memeo, established in 2003 by Hong Bui, operates as a specialized provider of data management and protection services. Initially focused on end-point backup, the Silicon Valley-based company expanded its offerings into the sync and share business market for consumers, small businesses, and enterprise clients. Its business model centers on selling software licenses for its suite of data protection products. Before its acquisition, Memeo had successfully raised $8.1 million in funding over two rounds, with notable investors including Foundry Group and Montage Capital. A significant milestone in the company's history was its acquisition by UNICOM Global on March 31, 2014, in an all-cash transaction. Post-acquisition, Memeo continues to operate as a division of UNICOM, benefiting from the parent company's extensive resources and global presence.

The company's product portfolio is designed to simplify data protection and accessibility through backup, synchronization, and secure sharing solutions. Offerings include 'Instant Backup' for one-click desktop file protection, 'Premium Backup' for home computers, and 'Professional Backup' for business data, which features both local and remote capabilities. A key product, Memeo C1, provides an enterprise-grade secure file-sharing solution available in cloud, on-premise, or hybrid deployments. This platform is storage-solution agnostic and emphasizes security with features like end-to-end and at-rest data encryption, compliant with standards such as HIPAA and Sarbanes-Oxley. Another service, VeroFiles™, offers a centralized location for critical files with direct cloud access. The software is noted for its automated backup processes that track and save file changes, a 'Back in Time' feature for easy data recovery of multiple file versions, and 192-bit Triple DES encryption for secure data transfer.

Memeo targets a broad market, from individual consumers to large-scale businesses and government agencies. The company's revenue is generated through the sale of licenses for its various software products, with pricing structures tailored to different user segments. For instance, Memeo Instant Backup is offered at a starting price per license for individual users, while Memeo Professional Backup has a different price point for business use. By the time of its acquisition in 2014, the company had already established a significant user base, having shipped over 70 million software licenses to 22 million customers across 150 countries.