Periodic Reporting for period 1 - ProtonSuite (The world’s largest secure collaboration suite)
Periodo di rendicontazione: 2017-12-01 al 2018-03-31
These events are pushing organizations, governments and individuals to adopt internet security instruments such as data encryption tools, anti-virus, firewalls, IAM, risk & compliance management software. This trend is being reinforced in Europe through the introduction of the GDPR, which highlights end-to-end encryption as an appropriate technical measure to safeguard data.
In this context, ProtonMail is the world's largest and best-regarded secure email, with over 3M customers from 150 countries. ProtonMail is an innovative product that provides user-friendly experience with full end-to-end encryption. Our strategic market positioning and our advanced Open Source encryption framework has resulted in an outstanding market response over the last years.
We will now take full advantage of our innovative, intuitive and solid zero access encryption architecture to develop and bring to the market additional services that will complete our full Suite of products, featuring a secure cloud storage drive (ProtonDrive) and a blockchain-based directory for public key authentication (ProtonPublicDirectory).
In our stakeholder study, we identified potential partners to enhance our commercial and operational approach. We designed a detailed partnership acquisition strategy, including corporate stakeholder identification, and developed a plan to expand existing partnerships through inbound and outbound channels. We also set the baseline for our support procedures throughout the partnerships.
We performed an exhaustive market analysis identifying key customer segments among consumers, SMEs and Enterprises. The market study also included a detailed analysis of market conditions and layering, as well as the identification and characterization of competitors. We also developed our commercialization plan, as well as a complete FTO study.
Concerning the financial feasibility, we estimated the project budget and time distribution of costs. Three different scenarios were considered for the first 5 years of commercialization (pessimistic, realistic and optimistic). Based on the most likely scenario, we performed forecasts for cost, revenue, EBITDA and ROI.
We will therefore develop our own solution based on our current cryptographic technology used for the ProtonMail platform and expand it with two key components: Firstly, ProtonDrive will provide End-to-End encrypted file storage, file sharing and smart sync with different devices in a market that lacks end-to-end secure solutions. Secondly, ProtonPublicDirectory will leverage blockchain technology to provide both easy and reliable encryption key distribution and authentication. As the first publicly auditable system for end-to-end authentication, it will ensure that the key cannot be tampered with in a way that is impossible to discover. Following our Open Source strategy, we will create an ecosystem that will also allow verified third parties to exist within the directory, building a universal directory of public keys.
This will allow ProtonMail to acquire millions of new customers over the next years, thus replacing widely used and potentially unsecure and non-GDPR compliant products from the US with a secure and Europe-built solution that appeals to both individual consumers and companies.