Cloudflare's Co-Founder Is Tech's Newest Billionaire
Cloudflare's Co-Founder Is Tech's Newest Billionaire
For most of us, becoming a billionaire is nothing but a farfetched dream. For others (and by others, I mean a select few), it's a fully realizable goal and the natural next step in one's entrepreneurship. Belonging to the latter group is Michelle Zatlyn, the co-founder of the web security firm known as Cloudflare. This past Tuesday, the company's stock soared to record highs, with share prices closing at $108.93 on the New York Stock Exchange. Such numbers represent a doubling of last year's value, and it has made Zatlyn the newest billionaire in the tech world.
Zatlyn currently serves as Cloudflare's chief operating officer and she has a 5% stake in the company. She's actually the company's second billionaire, just after Matthew Prince, the CEO who became a billionaire himself last May. Today, he is worth $4 billion, and he has a 13% stake in the company.
The two have been business partners since their days at Harvard. When they founded Cloudflare in 2009, they initially had a third partner with them—Lee Holloway, one of Prince's collaborators. Unfortunately, due to serious health issues, he had to step down in 2016, leaving Zatlyn and Prince to run the company.
https://twitter.com/Cloudflare/status/1172533231800987650
Cloudflare specializes in cybersecurity, offering websites protection from various online threats. Given that we are now in an era of near-total digitization and remote work, its services are very much timely and relevant in today's industries. The company first went public in the fall of 2019 with a share price of $18 and it rose steadily soon after. Its meteoric rise occurred after the COVID-19 pandemic hit, as several companies and services switched to online means. Last year, Cloudflare raked in an impressive $431 million; however, its net losses also went up.
Like any great success story, Cloudflare's rise to prominence was not without controversy. The company was met with criticism in the past for providing its services to websites such as 8chan and The Daily Stormer, to which it argued that it was simply standing by the principles of free speech. However, the company eventually cut off both websites from its services after it was discovered that the culprit of the mass shooting in El Paso, Texas in 2019 had posted his plans on an 8chan message board.
Most recently, Cloudflare provided its cybersecurity services to election websites involved in the 2020 U.S. elections, as well as to vaccine distributors that have been increasingly active during the ongoing pandemic. Needless to say, Cloudflare can expect to have a busy couple of years in the near future.
Source
READ MORE
Whether you're struggling to budget or are needing to start budgeting and are looking for a new approach, zero-based budgeting could be a different approach that will have you looking more honestly at your finances.
Any inheritance, although coming with a (sometimes) painful loss, is a great opportunity to invest your money into yourself in some way. Whether that's a vacation, a new home, or in your future. What if you inherited over a million dollars? Here are our suggestions for the unexpected multi-millionaire.
Groceries aren't getting any cheaper. But the way you shop could be quietly costing you more than it should. Ready to keep your cart full and your budget intact?
Whether you're clearing your grandma's house after she's passed on or simply decluttering, there are so many vintage items worth big bucks that most people just throw away. Do some research before discarding anything that may have some value. You could be throwing out thousands of dollars worth of vintage valuables.
If you've finally hit 65 or 70 and think this will be the year you'll retire, congratulations! But before you take that monumental step of giving up work for good, here's your must-do retirement checklist.
Nothing in the stock market is guaranteed. It's a gamble—and even the people that know the most and understand it the best often lose lots of money. But there is also the opportunity to make lots of money if you make the right choices/guesses/get lucky. Like if you'd bought any of the following stocks...
Disclaimer
The information on MoneyMade.com is intended to support financial literacy and should not be considered tax or legal advice. It is not meant to serve as a forecast, research report, or investment recommendation, nor should it be taken as an offer or solicitation to buy or sell any securities or adopt any particular investment strategy. All financial, tax, and legal decisions should be made with the help of a qualified professional. We do not guarantee the accuracy, timeliness, or outcomes associated with the use of this content.
Dear reader,
It’s true what they say: money makes the world go round. In order to succeed in this life, you need to have a good grasp of key financial concepts. That’s where Moneymade comes in. Our mission is to provide you with the best financial advice and information to help you navigate this ever-changing world. Sometimes, generating wealth just requires common sense. Don’t max out your credit card if you can’t afford the interest payments. Don’t overspend on Christmas shopping. When ordering gifts on Amazon, make sure you factor in taxes and shipping costs. If you need a new car, consider a model that’s easy to repair instead of an expensive BMW or Mercedes. Sometimes you dream vacation to Hawaii or the Bahamas just isn’t in the budget, but there may be more affordable all-inclusive hotels if you know where to look.
Looking for a new home? Make sure you get a mortgage rate that works for you. That means understanding the difference between fixed and variable interest rates. Whether you’re looking to learn how to make money, save money, or invest your money, our well-researched and insightful content will set you on the path to financial success. Passionate about mortgage rates, real estate, investing, saving, or anything money-related? Looking to learn how to generate wealth? Improve your life today with Moneymade. If you have any feedback for the MoneyMade team, please reach out to [email protected]. Thanks for your help!
Warmest regards,
The Moneymade team
