Subscribe for notification
Tech

CrowdStrike: Cybersecurity Firm Behind Global Outage

On Friday, Microsoft’s Azure cloud platform and CrowdStrike’s software fault caused global computer outages that affected airlines, banks, and media companies

The problem affected computers running the CrowdStrike software and the Windows operating system. CrowdStrike stated that it was collaborating with affected customers and had implemented a solution to the problem, resulting from an update it had distributed to Windows users.

The following are a few critical details regarding CrowdStrike:

What is CrowdStrike?

CrowdStrike provides enterprises with cloud-based security solutions. The Falcon utility, one of the causes of the outage on Friday, is responsible for detecting vulnerabilities and unusual behavior to safeguard computer systems from threats such as malware.

CrowdStrike, headquartered in Austin, Texas, was established in 2011. As of January, the company employed over 7,900 individuals and operates in over 170 countries.

The United States was responsible for nearly 70% of the over $900 million in revenue reported for the quarter ending in April.

WHAT ARE THE MAJOR CLIENTS AND COMPETITORS OF CROWDSTRIKE?

The organization’s customers include Intel, Amazon, and Google, which are subsidiaries of Alphabet. It serves approximately 29,000 clients worldwide.

Its clients include the U.S. government, Formula One team Mercedes-AMG PETRONAS, and retail behemoth Target, and its presence is spread across multiple sectors.

CrowdStrike competes with Fortinet, Palo Alto Networks, and Zscaler.

CrowdStrike’s stock versus its peers

On Friday, CrowdStrike’s shares experienced a roughly 12% decline in premarket trading. According to LSEG data, CrowdStrike’s stock price had increased by 34% this year, and its market value was $83.5 billion as of Thursday’s close. In contrast, Palo Alto Networks’ stock has increased by approximately 10% year-to-date, with a market capitalization of $104.87 billion.

Hillary Ondulohi

Hillary is a media creator with a background in mechanical engineering. He leverages his technical expertise to craft informative pieces on protechbro.com, making complex concepts accessible to a wider audience.

Disqus Comments Loading...

Recent Posts

Hackers Breach Tate’s Online ‘University,’ Steal Data

Hackers have infiltrated an online course that was established by Andrew Tate, a self-described misogynist and purported influencer The compromise…

1 hour ago

Apple Builds Conversational Siri with LLMs

Apple is reportedly working on an enhanced version of Siri, incorporating large language models (LLMs) to create a more conversational…

2 hours ago

YouTube Shorts Unveils AI Video Backgrounds

Thursday was the day that YouTube announced that its Dream Screen feature for Shorts now allows users to construct movie…

2 hours ago

Marissa Mayer Pitches Ad-backed AI Chatbot Model

Marissa Mayer proposes a business model for AI chatbots funded by advertising, highlighting potential opportunities for monetization Marissa Mayer possesses…

2 hours ago

Palo Alto Networks Warns of Firewall Breaches

By exploiting two new zero-day vulnerabilities discovered in widely used software developed by cybersecurity behemoth Palo Alto Networks, malicious hackers…

2 hours ago

Wiz Buys Dazz for $450M

Wiz, a cybersecurity company that has garnered significant attention, is acquiring a substantial amount of cloud security technology in order…

2 hours ago