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The concept and implementation of cloud computing have attracted more and more attention from industry and research community. In this paper, we explore how the industry moves beyond the buzzword of cloud computing and put it into the actual business benefits. Machine to machine (M2M) is selected as the field of implementation as it is hailed as the next big thing in the area of mobile communication services. It represents a sizeable and growing market opportunity and is now gaining its momentum. The business model canvas serves as a guideline to show the real value of cloud computing for M2M players. As it is showed in this paper, cloud computing plays a crucial role of how an organization creates, delivers, and captures value for the end users. Such alignment helps key decision makers to understand how the business works and to decide the focus area. It is believed that M2M players who leverage on the cloud computing benefits will have the big possibilities to lead the market.