What kind of company is CrowdStrike, which accounts for 15% of the cybersecurity market?
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What to Know About CrowdStrike, the Little-Known Cybersecurity Company Behind a Global Tech Outage - WSJ
https://www.wsj.com/tech/crowdstrike-cybersecurity-software-global-it-outage-3ca536f6
How and why CrowdStrike has a massive market share - NotebookCheck.net News
CrowdStrike was founded by George Kurtz, Dmitri Alperovich, and Greg Marston. Kurtz, in particular, founded security company Foundstone in October 1999 and had major telecommunications companies such as AT&T and Motorola as clients.
George Kurtz: President, CEO and Co-Founder | CrowdStrike
When Foundstone was acquired by McAfee in 2004, Kurtz became a senior executive at the company, eventually serving as its chief technology officer (CTO). Alperovich was McAfee's vice president of threat research, while Marston was the chief financial officer (CFO) of the consulting firm Network in Motion.
In 2010, while Kurtz was CTO, McAfee caused a large-scale bug that caused Windows XP to enter a reboot loop. McAfee, which had a strong gross profit margin of 80%, suffered huge losses and was acquired by Intel .
For those who don't remember, in 2010, McAfee had a colossal glitch with Windows XP that took down a good part of the internet. The man who was McAfee's CTO at that time is now the CEO of Crowdstrike. The McAfee incident cost the company so much they ended up selling to Intel. pic.twitter.com/DgWid6MSK0
— Anshel Sag (@anshelsag) July 19, 2024
The three founded CrowdStrike in 2011 and entered the cybersecurity market in 2013. The company's most popular product was CrowdStrike Falcon, an advanced antivirus service that helped the company secure contracts with government agencies.
In addition, in 2016, the company attracted attention by detecting attempts by Russian government hacker group Fancy Bear and others to hack into government agencies such as the White House, and by identifying hackers involved in the theft of Hillary Clinton's emails during the presidential election.
Following these successes, CrowdStrike went public in 2019 and has grown to a market value of $11 billion (approximately 1.7 trillion yen), making it one of the top cybersecurity services providers.
In 2023, the Securities and Exchange Commission tightened regulations related to security incidents, which increased demand for CrowdStrike's services to easily meet compliance, further increasing its market share. As a result, it has become a giant security company with 15% of the market share, a market value of $73 billion (approximately 11.42 trillion yen), and 8,000 employees.
In addition, following this complete outage incident, CrowdStrike's stock price fell 11% on Friday, July 19th, and it is expected that its market share will also be adversely affected.
By the way, co-founder and former CTO Alperovitch left the company in 2020 to launch the non-profit, non-partisan think tank Silverado Policy Accelerator. CFO Marston has also already left the company.
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