Element AI, which helps companies improve their operations using AI, raises $151.4M Series B, reportedly at a $625M valuation (@seansilcoff / Globe …
Yesterday, I published an article about a company called Healthy.io. I praised the company for incorporating its .IO domain name within its branding, making it less likely that people will make a mistake when navigating to the startup’s website or sending email to employees. I found an even better example of a company’s wise usage of its ccTLD domain name.
This morning, several tech publications covered the news of a major funding round for a company called Element AI:
Like Healthy.io, Element AI also uses a ccTLD domain name: Element.ai. The difference is that Healthy.io incorporates its domain name within the branding but Element AI does not include the dot within its branding.
Because the dot and specifically the .AI aren’t totally clear with Element AI, there could still be some confusion regarding its domain name. Smartly, Element AI also owns its brand match .com domain name as well: ElementAI.com. Whether someone visits Element.ai or ElementAI.com, they will end up on the same, correct website.
Element AI uses its .com domain name for its website, but I think having both of these domain names makes choosing the domain name to use a bit less important. I think they could have stuck with the .AI and forwarded the .com if they wanted to do that. The only risk is that the company doesn’t own the high value Element.com domain name so there would be a possibility for confusion if they uses the .AI as the primary domain name.
The other thing I noticed is the positioning of the “AI” within the logo. I am not sure if it was intentional or not, but by having it in the position they have it, viewers will not accidentally mistake it for the name Elemental.
I think it is wise for non.com users to incorporate their extension or at least the word that makes up the extension within the branding to avoid confusion. Element AI takes it a step further to prevent traffic and email leakage by owning both domain names.
While CrowdStrike shares are trading 93% above their IPO price, the ETFMG Prime Cyber Security HACK, +0.05% is up 14% for the year while the …
Cloudflare Inc. shares burst out of the gate for their first day of trading Friday as the latest cybersecurity company to go public in a space that’s seeing rapid consolidation.
On Friday, the price of the stock shot to a high of $19.53, and closed up 19% at $17.90, for a market cap of about $5.25 billion, with 35.9 million shares exchanging hands during the session. Up to 40.3 million shares are being offered including those optioned to underwriters to cover overallotments. Late Thursday, Cloudflare NET, +20.00% had priced its shares at $15, above its $12 to $14 range, which had been raised from an origin range of $10 to $12.
Shares of the company, which specializes in a cloud-based network platform that promises security, enhanced performance of business-critical applications, and “eliminating the cost and complexity of managing individual network hardware,” traded publicly for their first day Friday under the ticker symbol “NET” on the New York Stock Exchange.
The IPO received a warm reception even as the company appeared to have a bumpy ride leading up to it.
In August, Cloudflare dropped 8chan as a customer, condemning the unmoderated message board as “a receptive audience for domestic terrorists” following recent mass shootings, and this appears in the company’s “risk factors” section. Cloudflare noted that it was not the first time a customer elicited scrutiny after a violent attack.
The company also disclosed that it may have done business with individuals and entities tied with narcotics and terrorism according to the U.S. Department of the Treasury’s Office of Foreign Assets Control blacklists, and that it was introducing additional controls and screening to prevent similar activity occurring in the future.
“The challenge that we had is that we were getting mixed signals from the U.S. government for the last nine years,” Matthew Prince, Cloudflare co-founder & CEO, told MarketWatch in an interview.
“Some parts of the U.S. government were like ‘we’d really like it if these bad guys were on your network because you guys respond to valid court orders, and we’d rather them be on your network than on your Iranian competitor,’” he said. “Others are like, ‘the law is the law.’”
At the end of 2018 as the company started getting ready for the IPO, Cloudflare decided to err on the side of the letter of the law.
“We said ‘enough is enough, you guys haven’t been able to give us one clear message,’ because different parts of the U.S. government had different opinions,” Prince told MarketWatch.
Cloudflare’s IPO comes just a few months after cybersecurity company CrowdStrike Holdings Inc.CRWD, -6.89% went public in June. While CrowdStrike shares are trading 91% above their IPO price, the ETFMG Prime Cyber Security HACK, +0.16% is up 14% for the year and the Renaissance IPO ETF IPO, -0.69% is up 31%. The First Trust Cloud Computing ETF SKYY, -1.24% is up 19% for the year, compared with a 23% gain in the tech-heavy Nasdaq Composite Index COMP, -0.22%.
Prince said an IPO has always been an implicit assumption at the company. As soon as you start taking venture capital money or start issuing options to employees, there’s an implicit signal that you’re going to have to turn that into something you can buy a house with or send a kid to college with, and that there was no pressure from early investors or employees, he said.
“When you get to the point where you’re generating hundreds of millions of dollars in revenue and you’ve got over a thousand employees, the rules of being a public company, whether you’re public or not, you should be living by,” Prince told MarketWatch. “You should do audits and you should have an internal control system and you should make sure you’re doing GAAP financials , and all of those things and you can’t be Peter Pan forever.”
Wallace Witkowski is a MarketWatch news editor in San Francisco. Follow him on Twitter @wmwitkowski.
Investors included Franklin Templeton, New Enterprise Associates, Union Square Ventures, Venrock, Pelion Venture Partners, Greenspring …
Cloudflare (NYSE: NET), an internet security and performance company, made its debut on the public market.
Listed on the New York Stock Exchange, Cloudflare kicked off trading at $15 per share, which values it at approx. $4.4 billion.
The joint lead bookrunners in the offering are Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, & J.P. Morgan Securities LLC.
Launched in 2010, Cloudflare provides a global cloud platform that delivers a broad range of network services to businesses of all sizes and in all geographies—making them more secure, enhancing the performance of their business-critical applications, and eliminating the cost and complexity of managing individual network hardware. The platform serves as a unified control plane to deliver security, performance, and reliability across on-premise, hybrid, cloud, and software-as-a-service (SaaS) applications. Today, there are 20 million internet properties on Cloudflare’s network, which spans 194 cities across more than 90 countries and interconnects with over 8,000 networks globally, including major ISPs, cloud services, and enterprises.
The company has 1,069 employees in 12 offices in San Francisco, CA, San Jose, CA, Austin, TX, Champaign, IL, New York, NY, Washington, D.C., Lisbon, London, Munich, Singapore, Sydney, Beijing.
It has 2 million customers and nearly 75,000 paying customers
Investors included Franklin Templeton, New Enterprise Associates, Union Square Ventures, Venrock, Pelion Venture Partners, Greenspring Associates, CapitalG (Google Capital), Microsoft, Baidu, Qualcomm, and Fidelity.
Neeraj Agrawal (Battery Ventures) has the plan from his investments in AppDynamics, Bazaarvoice, Guidewire, Marketo, and others. Intent on building …
In little more than three weeks, San Francisco will be all aglow with TechCrunch’s Disrupt SF (October 2-4) at the Moscone Center. If you’re a part of the startup scene, or plan to be, there is a long list of reasons why you should join the event. (And there is a pass priced for most every pocketbook!) Here are five reasons why:
#1 The people you’ll meet. At nearly 8,000 attendees last year, Disrupt SF was TechCrunch’s biggest event ever but thanks to the CrunchMatch platform for attendees, meeting a potential (and relevant) investor, founder, employer or business partner is never more than a few taps away. Last year, CrunchMatch delivered almost 1400 1:1 meetings alongside tons of organic networking that happened on the show floor and during sessions.
#2 Watch, Work, Network. With the two Disrupt stages running concurrently, there’s always lots of content to take in – check out the agenda here. Pick your sessions, then take a break to take that call or tackle the inbox in one of the many comfy seating areas around the floor. Need a quiet place to take a meeting? There are several semi-private meeting rooms you can book. Stretch your legs in Startup Alley, where hundreds of startups are arrayed in categories, including ecommerce, SaaS, robotics and biotech, or line-up a few meetings through CrunchMatch. Days at Disrupt are guaranteed to be some of your most productive days this year.
#3 The Speakers. No matter your angle on the startup scene, TechCrunch’s editors have have produced an impossible (and highly diverse) speaker line-up.
There corporate titans include Spiegel (Snap), Benioff (Salesforce), Levie (Box), van Dijk (Naspers), and Hewson (Lockheed), Vestberg (Verizon)
The vast VC line-up counts the likes of Bannister (Founders), Gouw (Aspect), Dixon (a16z), Royan (Mithril), Krane (GV), Lee (Sequoia), Quinn (Spark)
The technologists / entrepreneurs span the gamut of tech from CRISPR to AI to robotics to security, to enterprise and mobility, including Thrun (Kittyhawk), Haurwitz (Caribou Biosciences), Altman and Brockman (OpenAI), Moll (Auris), Adkins (Google), Isakowitz (Aerospace Corp), Henderson (Slack), VanderZanden (Bird).
#4 Startup Battlefield. TechCrunch’s signature startup competition brings to the big stage 20 incredible early stage companies that you’ve never seen before. The company names are under wraps until the end of the show but there’s a reason why Ashton Kutcher, Marissa Mayer, Alfred Lin (Sequoia), Ann Miura-Ko (Floodgate), and Mamoon Hamid (KPCB) were eager to step in as finals judges. The 857 contestants to date have pulled in $8.9 billion and produced 111 exits. That Cloudflare IPO this week? They launched at TechCrunch Disrupt in 2011 at Startup Battield.
#5 The Extra Crunch angle. Many of the top speakers at Disrupt will appear on the new Extra Crunch stage, so named for TechCrunch’s new sub subscription service aimed at helping founders move faster up the curve. On the Extra Crunch stage, it’s the same drill plus we’ve added in time for them to take questions from the audience.
Want tips for that Y Combinator application? Michael Siebel, YC’s CEO will share his.
Wondering how to go from a zero to a billion dollar SaaS business? Neeraj Agrawal (Battery Ventures) has the plan from his investments in AppDynamics, Bazaarvoice, Guidewire, Marketo, and others.
Intent on building an open and high functioning company culture? Hear from the legendary Ray Dalio, head of Bridgewater Associates, the world’s largest hedge fund, and author of bestseller Principles.
We know that’s a lot but it’s just the start. Disrupt SF is one tech-focused startup event you have to experience in person. Don’t want for the FOMO to hit and get your passes to attend Disrupt SF this October.