Cloudflare Is Officially Going IPO


Cloudflare is officially going IPO. The S-1 has just been made public. The most important take away, Cloudflare isn’t solely focused on the SMB market. They have 100 of the Fortune 1000 as paying customers and growing. Cloudflare going IPO is the biggest event in CDN history, there will never be another Cloudflare. What they have accomplished is amazing.

Cloudflare started off as a CDN but evolved into an AWS-like platform that provides dozens of features. They are a leading innovator in cloud security and edge computing and have the products to show for it. The question now is not where and what Cloudflare is today or in the next 12 months, the bigger question is what can they become in three years and can they grow revenue to nine figures. We’ll publish a deep dive into the Cloudflare business model in a few days. In the meantime, the S-1 highlights are below.


  • Founded: 2009
  • # of employees: 1,147 (LinkedIn)
  • HQ:  San Francisco
  • Total raised: $332M
  • Execs: Matthew Prince (CEO) and Michelle Zatlyn (COO)
  • Notable investors: Microsoft and Baidu

S1 Highlights

  • 2016 Revenue: $84.8M
  • 2017 Revenue: $134.9M
  • 2018 Revenue: $192.7M
  • 20M Internet Properties
  • 10% of the Fortune 1,000 are clients, that’s 100 Fortune 1000 companies
  • Customers (free + paid): 1) 10% of top 1M websites 2) 17% of top 100,000 and 3) 18% of the top 10,000
  • Gross margin is 77%
  • 2016-2018 revenue growth is 51%
  • 44B cyber threats blocked per day
  • Network spans 193 cities and 90 countries
  • Network interconnection with 8,000 networks globally


  • Content and video delivery
  • Cloud Security
    • Web application firewall
    • DDoS protection
    • Bot protection
  • Application Access (replaces VPN and some cases MPLS)
  • Edge computing
    • Workers (severless scripting)
    • Workers KV (CDN Database)
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