The Cybersecurity industry makes a new billionaire

Michelle Zatlyn, cofounder of web infrastructure and security firm Cloudflare, is tech’s newest billionaire after the company’s stock reached a new record high on Tuesday. Share prices closed at $108.93 on the New York Stock Exchange, more than double that of a year ago, elevating Zatlyn’s net worth to $1 billion.Zatlyn, who serves as the San Francisco company’s president and chief operating officer, owns about a 5% stake in Cloudflare. She is Cloudflare’s second billionaire, following cofounder and CEO Matthew Prince, whose 13% stake helped him reach the $1 billion mark last May. Prince, CEO & Chair of the Board of Cloudflare Inc sold 157,155 shares of NET on 07/19/2021 at an average price of $103.14 a share. The total sale was $16.2 million.Cloudflare was founded in 2009 by Prince and Zatlyn, who met at Harvard Business School, and a third cofounder, Lee Holloway. The company has more than 1700 employees and is one of the biggest networks operating on the Internet. People use Cloudflare services for the purposes of increasing the security and performance of their web sites and services. Cloudflare also provides security by protecting Internet properties from malicious activity like DDoS attacks, malicious bots, and other nefarious intrusions.Sources: Forbes.com, Yahoo Finances, LinkedIn and BloombergEpisode thanks to: CifraTransfer the best OpenPGP encryt software. Hosted on Acast. See acast.com/privacy for more information.