CrowdStrike serves some of the world’s largest tech companies, including Alphabet’s Google, Amazon, and Intel, with around 29,000 customers globally.
On Friday, a global technology outage affected multiple industries, including airlines, banking, and media, due to issues related to Microsoft’s Azure cloud platform and a software problem at cybersecurity firm CrowdStrike.
Also Read:- Fandango Founder J. Michael Cline Dies in Apparent Suicide at NYC Hotel
The disruption impacted computers using the Windows operating system and CrowdStrike software. Crowd Strike announced it was collaborating with affected customers and had implemented a fix for the problem, which originated from an update it issued to Windows users.
Here are some essential details about Crowd Strike:
What is CrowdStrike?
CrowdStrike provides cloud-based security solutions for businesses. Its Falcon tool, which was part of the cause of Friday’s outage, detects unusual activities and vulnerabilities to safeguard computer systems from threats like malware.
Founded in 2011 and headquartered in Austin, Texas, Crowd Strike operates in over 170 countries and employed more than 7,900 people as of January.
In the quarter ending in April, the U.S. contributed to nearly 70% of the over $900 million in revenue reported by Crowd Strike.
Also Read:- Elon Musk Relocates SpaceX and X Headquarters to Texas, Citing California Legislation
Who are CrowdStrike’s Major Clients and Competitors?
Crowd Strike serves some of the world’s largest tech companies, including Alphabet’s Google, Amazon, and Intel, with around 29,000 customers globally. Its client base spans various sectors, including retail giant Target, Formula One team Mercedes-AMG PETRONAS, and the U.S. government.
The company’s main competitors include Palo Alto Networks, Zscaler, and Fortinet.
Crowd Strike’s Stock Performance
CrowdStrike’s shares dropped nearly 12% in premarket trading on Friday. As of Thursday’s close, the company had a market value of $83.5 billion, with its stock price having risen 34% this year, according to LSEG data.
In comparison, Palo Alto Networks’ stock has increased by about 10% year-to-date, with a market capitalization of $104.87 billion.
Also Read:- Former First Lady Melania Trump Appeared at Republican National Convention