From Observer, July 30:
The $90 billion cybersecurity behemoth has shed nearly $30 billion of its market cap since the IT outage incident.
Earlier this month (July 19), a historic computer outage that crashed 8.5 million computer system worldwide made CrowdStrike, a Texas-based cybersecurity company, an overnight household name. The incident was caused by a software update on Crowdstrike’s Falcon platform, which, when used on a Windows device, resulted in “read-out-of-bounds” memory safety errors that forced the device to stop working. The $90 billion cybersecurity behemoth has shed nearly $30 billion of its market cap since. CrowdStrike and its founder have a scarcely discussed meteoric rise to the helm of cybersecurity, quietly becoming responsible for keeping much of our global digital infrastructure safe from attacks.
Who is behind CrowdStrike?
CrowdStrike was founded in 2011 by George Kurtz, currently the CEO, Dmitri Alperovitch and Gregg Marston. Kurtz was already a well-known leader in the space before founding the company, having written a book about hacking that sold more than 600,000 copies globally. In 1999, he founded Foundstone, one of the world’s first security consulting companies. In 2004, the cybersecurity giant McAfee acquired Foundstone for $86 million and Kurtz quickly rose up to the CTO role at McAfee by 2009....
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