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CLOUDFLARE, INC.

(NET)
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Delayed Nyse  -  04:00:02 2023-03-28 pm EDT
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A Full Circle Journey: Introducing Cloudflare Canada

04/19/2021 | 09:07am EDT

Today Cloudflare announced that Toronto will be home to Cloudflare's first Canadian office and team. While I currently live in San Francisco, I was born and raised in Saskatchewan. As a proud Canadian, today feels like a homecoming. Canada has always been an important part of our history and customer base, and I am thrilled to see Cloudflare make a further commitment of expanding officially in the country and opening an office in Toronto. We are hiring a team locally to help our current customers and future customers, and to support even more great Canadian organizations. I wanted to share more about how Cloudflare works with Canadian businesses, what today's announcement means, and some personal reflections.

How Cloudflare works with Canadian entrepreneurs, businesses, and nonprofits

Cloudflare helps ensure anything connected to the Internet is fast, safe, and reliable. We do this by running a distributed global cloud platform that delivers a broad range of network services to businesses of all sizes-making them more secure, enhancing the performance of anything connected online, and eliminating costs and complexity. We help approximately 25M Internet properties around the world-whether you're a Canadian entrepreneur trying to spin up your next idea, a healthcare company trying to speed up vaccine distribution, a Global 2000 company, or a non-profit.

Today we work with thousands of customers in Canada including Canadian entrepreneurs, universities, non-profits, large enterprises, as well as small businesses. All of those services need to be fast online, protected from cyber attacks, reliable, and available around the world. Cloudflare helps make that happen-and we're really good at it. Each day we have blocked an average of 70 billion cyber attacks on behalf of our customers-more than 3.2 billion of those attacks, that we have seen everyday, originate in Canada-and that number has increased by 26% from the end of 2020. We have also seen online usage increasing as well-Internet traffic in Canada is up about 60% compared to one year ago when the world was first shifting to a virtual lifestyle. Canadians are spending a lot more time online in 2021, compared to 2020.

I'm especially proud of how we've offered our technology to organizations that may not have the resources to keep up with high traffic and protection from cyberattacks like BullyingCanada, Canada's largest anti-bullying charity serving Canadian youth. Helping keep their website reliable and secure for children and families seeking support, especially when they need it most. It's also fulfilling to know that we help power COVID-19 vaccine distributors, like Verto Health in Canada and Jane who are helping with the vaccine distribution in British Columbia. We help keep these registration sites accessible, withstand scheduling demands, and efficiently queue and facilitate the distribution of the COVID-19 vaccine.

It turns out whether you are a developer working on a hobby project or a large Canadian organization, every business needs to deliver their service more quickly, more securely, and more reliably. That's exactly why we started Cloudflare.

Canada is leading digital citizenship

There's no question that the world has relied on the Internet more than ever before this past year-and that isn't going away. The Internet has reinvented the way we live and survive. We've relied on the Internet to access public information, visit the doctor, get our work done, stay in-touch with friends and loved ones, educate our children, order groceries, and so many other things.

Canada has done a great job at fostering digital citizenship, and is continuing to take this ahead of the curve as one of the most Internet connected countries in the world (#7!). Also, the depth and quality of Canada's tech talent pool is undeniable, with more than 2.8 million STEM graduates and the world's highest educated workforce.

There's a strong growing technology ecosystem and entrepreneurship in Canada. This isn't just a moment, it's a movement. And it's gaining steam. Since 2013, Toronto has added more tech jobs than any other place in North America, including Silicon Valley. There are numerous communities helping propel this. As a Charter Member of The C100 it's great to see how this community of Canadians in tech are supporting, inspiring, and connecting with Canadian entrepreneurs across the globe. There are plenty of other amazing communities and resources including Next 36, Co.Labs, Elevate and events like Collision Conference bringing together the vast technology industry-I'll be speaking about Canadian entrepreneurship tomorrow alongside Ariel Garten.

Canada is also a strong research hub that's progressing global standards. We've worked with a number of research teams and academic communities, such as with the University of Waterloo, to evolve global cybersecurity, cryptography, and privacy. Now having our team on the ground presents an even stronger opportunity to deepen this work.

Homecoming

I grew up in Prince Albert, Saskatchewan, and my journey from the North to Silicon Valley included stops in Montreal and Toronto, before I headed to Boston for business school and, eventually California.

Saskatchewan is all about community and hard work, which gave me the foundation to be an entrepreneur and really help build what Cloudflare is today.

Toronto is a special place for me because it was where I fell in love with startups. I worked for an early-stage startup, and that's where I learned about the power of what a small group of motivated people can accomplish together. It's also where I got my first experience working in technology. I soon saw how pragmatic and actionable it was working in technology, and I was instantly drawn to how it could make an impact on the world.

I went to Harvard Business School to pursue my MBA. It was there that I met a super smart serial entrepreneur Matthew Prince. We were classmates and we started to work on Cloudflare together. We eventually moved to San Francisco to join our third co-founder, Lee Holloway and to grow Cloudflare.

Fast forward to almost 11 years later, I'm excited for Cloudflare to expand our team to Canada. We are here to help build a better Internet-for Canadian organizations and their online users.

How we can all work together

I'm thrilled that we are doubling down on hiring local talent to further support local customers and partner with more businesses in the region. As new neighbors in the region, don't hesitate to reach out if we can help:

  • Universities/Research: For research industry professionals and Universities interested in working with us, or if you want to learn more about Cloudflare's approach to research, check out research.cloudflare.com or connect with the team: [email protected]
  • Project Galileo:We proudly secure public interest groups with our highest level of cybersecurity, at no cost, through Cloudflare's Project Galileo. If you are an organization working in the arts, human rights, civil society, journalism, or democracy, you can apply for Project Galileo to get this protection, free of charge.
  • Project Fair Shot: Around the world, governments, hospitals, and pharmacies are struggling to distribute the COVID-19 vaccine. We want to help and have created a feature for vaccine registration sites to keep up with demand and use digital queues to safely scale their efforts, at no cost. If you are an organization facilitating the distribution of the vaccine, reach out and we'll work with you quickly.
  • Businesses: If your business needs Internet security, performance, and reliability services, our team is ready to help. We have affordable plans for startups, non-profits, and small businesses at $20 and $200/month where you can get started now, or if you are a larger enterprise that wants to talk to our customer team, in Canada, contact us.
  • Careers: Finally, if you are interested in joining an ambitious mission to help build a better Internet, get in-touch with our team and checkout Cloudflare careers: Cloudflare Canada Careers.

Disclaimer

CloudFlare Inc. published this content on 19 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 April 2021 13:06:01 UTC.


ę Publicnow 2021
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Financials (USD)
Sales 2023 1 335 M - -
Net income 2023 -229 M - -
Net cash 2023 494 M - -
P/E ratio 2023 -84,9x
Yield 2023 -
Capitalization 18 531 M 18 531 M -
EV / Sales 2023 13,5x
EV / Sales 2024 10,1x
Nbr of Employees 3 217
Free-Float 85,4%
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Number of Analysts 28
Last Close Price 56,10 $
Average target price 67,32 $
Spread / Average Target 20,0%
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Managers and Directors
Matthew Browning Prince Chairman & Chief Executive Officer
Michelle Marie Zatlyn President, Chief Operating Officer & Director
Thomas Josef Seifert Chief Financial Officer
John Graham-Cumming Chief Technology Officer
Rick Magarro Head-IT Operations Engineer
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