As one of the leading cybersecurity providers, Cloudflare has continued to grow its valuation and strategic relevance since its founding in 2009. With a net worth of $26.79 billion as of September 2024, the company empowers businesses to navigate the evolving digital landscape. This post delves into Cloudflare’s valuation, revenue growth, and ownership structure, providing valuable insights for business owners and investors alike.
Cloudflare’s Net Worth in 2024
Cloudflare’s net worth reached $26.79 billion in September 2024, with a share price of $78.40 and 341.7 million shares outstanding. Listed on the New York Stock Exchange under the ticker symbol NET, Cloudflare has experienced significant growth since its 2019 IPO.
Starting with a valuation of just $6.3 million in 2009, the company’s value surged to $1 billion by 2012, and $1.8 billion by 2015. By the time of its IPO, Cloudflare had an enterprise value of $3.8 billion. As of 2024, Cloudflare’s net worth has risen by 433.18%.
Cloudflare Revenue and Financial Performance
Cloudflare’s revenue has seen consistent growth over the years, starting with $84.8 million in 2016 and reaching over $1 billion in 2023. Despite impressive revenue gains, the company has faced net losses every year since 2016, including $260.3 million in 2021, $193.4 million in 2022, and $183.9 million in 2023.
Cloudflare Ownership
As a public company, Cloudflare’s largest shareholders as of June 2024 include Capital World Investors (10.98%), Baillie Gifford and Company (10.78%), and Vanguard Group (9.82%).
Who is Cloudflare’s CEO?
Matthew Prince, Cloudflare’s co-founder and CEO since 2009, continues to lead the company’s global expansion. Prince’s compensation in 2023 amounted to $20.52 million, with 98.1% of it being stock and bonuses.
Cloudflare’s Controversies
Cloudflare has faced criticism for its content moderation policies. In 2019, it was criticized for initially refusing to terminate services to 8chan, a site associated with violent extremism, only to cut ties after public outcry following mass shootings. In 2022, Cloudflare faced similar controversy regarding Kiwi Farms, a notorious online forum targeting marginalized communities.
