As global macroeconomic conditions worsen and funding slowdown continues, Indian startups are cutting their spends on an integral part of tech businesses – cloud storage – by renegotiating contracts with service providers like AWS and Google Cloud, multiple startup founders told ET.
Many of these companies have slashed cloud expenses by 20%-30% while some growth stage startups such as ecommerce platforms Meesho and Dealshare have brought down their cloud expenses by 50%, under pressure to control their cash burn, they said.
This has led to the top three cloud service providers – Amazon Web Services (AWS), Google Cloud Platform and Microsoft Azure – waging pricing wars to lure startups onto their platforms in the current downturn.
Ov