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Is anyone using gogrid to host a low-medium traffic site? Approximately how expensive does it work out to be?

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There is no way of calculating, or even estimating, that without a fair amount of detail (or estimates of the detail) about the application you wish to host, how many users you expect to see each hour/day/week/month, how many concurrent users you expect and the amount of load and traffic you expect each user to generate.

Without any more detailed specs for your requirements your question is like asking "how much is a car?" or "what does a holiday cost?"

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