IaaS is a lousy business, says Chinese web giant Tencent: PaaS and SaaS is how we’ll make money in the cloud

Tencent has told investors that big cloud buyers are turning the screws on infrastructure-as-a-service pricing, and so it will pursue PaaS and SaaS instead. “Our belief is that when you're in the cloud business, it is inevitable that if you're renting infrastructure to very big companies, then those big companies will use …

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