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MarketScreener Homepage  >  Equities  >  Nyse  >  Cloudflare, Inc.    NET

CLOUDFLARE, INC.

(NET)
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Cloudflare : Announces Plans for First Office in France as It Continues to Invest in European Customer Success, Innovation, and Growth

11/10/2020 | 04:02am EST

The company continues to expand its presence in Europe with a team and operations in Paris focused on customer success, innovation, and growth in France

Cloudflare, Inc. (NYSE: NET), the security, performance, and reliability company helping to build a better Internet, today announced that Paris, France, will be the home of its fourth office in Europe, to further support its growing European operations. Paris represents a growing Cloudflare team and presence in Europe, following the company’s European headquarters in London, and offices in Munich, Germany and Lisbon, Portugal. Cloudflare’s Paris-based team will help the company grow brand awareness, support and acquire customers, and recruit new talent. As part of the announcement Cloudflare is welcoming its first Head of France, Boris Lecoeur, a seasoned regional leader with more than two decades of industry experience in software and technology, who will lead this new office and team.

“France is home to the seventh largest national economy, and Europe’s greatest concentration of Fortune Global 500 companies. This has always been an important region for us, and Paris is home to one of the first European data centers we turned on, nearly a decade ago,” said Matthew Prince, co-founder and CEO of Cloudflare. “With a team based in Paris, we're committed to this growing business landscape, being closer to our customers as well as expanding our business in the region.”

Today, Cloudflare’s network currently spans 78 cities in the EMEA region, including three cities in France. Cloudflare first invested in France when it expanded its network into Paris in 2011 just eight months after launching the company. Now with data centers spanning more than 200 cities in over 100 countries worldwide, the company continues to grow its presence to be even closer to Internet-connected users everywhere.

With more than 3.2 million customers globally, Cloudflare’s customers in the EMEA region are of various industries and sizes. French customers include enterprises among the likes of L’Oréal, Solocal, Criteo, Allianz France, and Webedia, logistics companies like DPDgroup (Le Groupe La Poste), educational institutions such as INSEAD, and iconic startups like Back Market, Happn, Wildmoka, and Sendinblue. Cloudflare also partners with a number of companies including Alter Way, Hardis Group, Smile, SoftwareONE, and more to enable joint customers in the country.

"In addition to securing our application with Cloudflare, Happn uses Cloudflare Workers in order to deliver our content in the right format depending on the user's device," said Guillaume Durand, Lead Operations Engineer, Happn. "This has allowed us to simplify and optimize the costs of our storage."

Cloudflare also protects non-profits like La Chaîne du Droit and Phaune Radio through its Project Galileo, an initiative that provides cybersecurity protection free of charge to public interest groups of cultural, artistic, or humanitarian importance.

"As a non-profit radio station based in Paris, Phaune Radio needed a way to protect against daily cyberattacks and accommodate a dramatic increase in listeners looking for a reviving listening experience during the pandemic," said Stephane Jourdan, co-founder at Phaune Radio. "Through Cloudflare's Project Galileo, we were able to scale 10X without worrying about security threats and focus on what we do best—bringing sound programming and podcasts to listeners throughout France, and globally."

Cloudflare’s first Head of France, Boris Lecoeur, will oversee and lead the company’s sales and overall team in the region. “Organizations are relying on the Internet, more than ever, to optimally serve and secure their customers, partners, and employees, and Cloudflare is leading this transition,” said Boris Lecoeur, Head of France at Cloudflare. “I have been impressed by what Cloudflare has built in EMEA, and specifically in France. I’m thrilled to help deliver the security, performance, and reliability customers depend on to win in the online economy.”

Within the last year, Cloudflare has grown its EMEA team by more than 55 percent. Today, Cloudflare has approximately 400 employees in the region. The initial functions prioritized for the Paris office include Engineering, Sales and Partnerships, Customer Success, and Marketing. Cloudflare’s Paris location will join its other global offices in San Francisco, CA, Austin, TX, Champaign, IL, Seattle, WA, New York, NY, San Jose, CA, Washington, D.C., Lisbon, London, Munich, Beijing, Singapore, Sydney, and Tokyo.

To learn more about Cloudflare, please check out the resources below:

About Cloudflare

Cloudflare, Inc. (www.cloudflare.com / @cloudflare) is on a mission to help build a better Internet. Cloudflare’s platform protects and accelerates any Internet application online without adding hardware, installing software, or changing a line of code. Internet properties powered by Cloudflare have all web traffic routed through its intelligent global network, which gets smarter with every request. As a result, they see significant improvement in performance and a decrease in spam and other attacks. Cloudflare was named to Entrepreneur Magazine’s Top Company Cultures 2018 list and ranked among the World’s Most Innovative Companies by Fast Company in 2019. Headquartered in San Francisco, CA, Cloudflare has offices in Austin, TX, Champaign, IL, Seattle, WA, New York, NY, San Jose, CA, Washington, D.C., Lisbon, London, Munich, Paris, Beijing, Singapore, Sydney, and Tokyo.


© Business Wire 2020
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Financials (USD)
Sales 2020 423 M - -
Net income 2020 -108 M - -
Net cash 2020 530 M - -
P/E ratio 2020 -223x
Yield 2020 -
Capitalization 23 923 M 23 923 M -
EV / Sales 2020 55,2x
EV / Sales 2021 41,3x
Nbr of Employees 1 697
Free-Float 61,1%
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Mean consensus BUY
Number of Analysts 16
Average target price 77,13 $
Last Close Price 77,85 $
Spread / Highest target 24,6%
Spread / Average Target -0,92%
Spread / Lowest Target -61,5%
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Managers and Directors
NameTitle
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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