January 1, 2022 | Eul Basa

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

momentsinternal

People Share Their Most Ridiculous "Are You Kidding Me" Moments

We've all experienced moments in our lives when we were left so dumbfounded we couldn't help but think the universe was pulling some elaborate joke on us.
January 31, 2020 Eul Basa
amazon_internal

Amazon Is Under Fire After Federal Investigators Discover Unsafe Conditions At Warehouses

This month, Amazon was served a major safety citation after federal investigators found multiple of its warehouses operating under unsafe work conditions.
January 31, 2023 Eul Basa
moneyinternal

How To Find Cheap Dental Implants

A perfect smile doesn't have to be expensive. Find out how to get affordable dental implants near you with these simple tips.
January 31, 2023 Eul Basa
financialadvice_internal

Not All Is What It Seems: Financial Advice On Social Media

They say don't trust everything you read on the internet. But does that apply to financial advice? It depends on who you listen to.
January 31, 2023 Eul Basa
terrifyinginternal

Restless People Share The Terrifying Thing That Is Currently Happening To Them

Occasionally, we find ourselves facing a situation that is utterly terrifying. Moments like those force us to think about what really matters in our lives.
July 31, 2019 Eul Basa
Layer 3 pain

People Share Something They Didn’t Understand The Depth Of Until It Happened To Them

Sometimes, we never really understand the magnitude of someone’s pain until we have the misfortune of undergoing it ourselves.
May 31, 2020 Eul Basa



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