Fun

Cloudflare Hits Market up 22 Percent After Dropping 8chan

News Feed - 2019-09-14 02:09:40

Shares of American web infrastructure and website security company Cloudflare surged 22 percent on its first day of public trading today. | Source: AP Photo/Richard Drew


Shares of American web infrastructure and website security company Cloudflare surged 22 percent on its first day of public trading today, opening at $18 after its initial public offering (IPO) priced shares at $15.We celebrated, but now it’s back to work. #BetterInternet pic.twitter.com/RdWvLH8hqN


— Cloudflare (@Cloudflare) September 13, 2019




Earlier in the week, Cloudflare’s IPO shares were increased from between $10-12 to $12-14 per share. The company raked in $525 million after selling 35 million shares.Source: Google


 Weathering the Storm


Cloudflare has seen itself involved in multiple unwanted controversies over the past few years.


Early last month, the company ceased servicing online message board 8chan after the El Paso shooter posted anti-immigrant and anti-government content on the website.


Cloudflare CEO Matthew Prince stated that though 8chan itself did not violate any laws, the website was out of alignment with his company’s goals of helping build a better internet. Prince wrote in a blog post:“Unfortunately, this is not an isolated incident. Nearly the same thing happened on 8chan before the terror attack in Christchurch, New Zealand. The El Paso shooter specifically referenced the Christchurch incident and appears to have been inspired by the largely unmoderated discussions on 8chan which glorified the previous massacre. In a separate tragedy, the suspected killer in the Poway, California synagogue shooting also posted a hate-filled “open letter” on 8chan. 8chan has repeatedly proven itself to be a cesspool of hate.”


Cloudflare also terminated services with The Daily Stormer after the neo-Nazi and white supremacist message board claimed that the web infrastructure company was secretly supporting its ideology.


The decision to cut-off services to problematic websites has seemingly worked out well for Cloudflare, as evidenced by today’s surge in the company’s share price.


The question now revolves around whether or not Cloudflare can fare better than its 2019 IPO counterparts Uber, Lyft, and Slack — all of which have seen serious losses since debuting on the public market.


Last modified (UTC): September 13, 2019 5:39 PM8chan Cloudflare

News Feed

Bitcoin exchanges’ BTC balances have dropped almost $10B in 2024
William Suberg8 hours agoBitcoin exchanges’ BTC balances have dropped almost $10B in 2024Bitcoin exchange withdrawal trends are clear as “pent up institutional demand” from the spot ETFs combines with the upcoming
More crypto AI alliances emerge following $7.5B token merger
Zhiyuan Sun6 hours agoMore crypto AI alliances emerge following $7.5B token mergerMany crypto projects have integrated AI as part of their everyday routine since the introduction of LLMs last year.1300 Total views7 Total
The SEC Has Rejected Every Bitcoin ETF. This Firm Thinks It Has a Solution
One company thinks it knows how to get a bitcoin exchange-traded fund (ETF) approved by U.S. regulators. Wilshire Phoenix, a relatively young financial firm in New York, filed to la
Bitcoin Games Launches Midsummer Promotion as Sweden Looks Toward Launching its Own Digital Currency
Bitcoin Games Launches Midsummer Promotion as Sweden Looks Toward Launching its Own Digital CurrencyThe premier cryptocurrency gaming portal, Bitcoin Games has announced the launch
‘Casino Jack’ Abramoff Charged in AML Bitcoin Cryptocurrency Fraud Case, Could Return to Prison
"Casino Jack" Abramoff Charged in AML Bitcoin Cryptocurrency Fraud Case, Could Return to PrisonJack Abramoff, the lobbyist behind one of the biggest Washington lobbying scandals as
Court denies Kraken’s motion to dismiss SEC lawsuit
Alex O’Donnell3 hours agoCourt denies Kraken’s motion to dismiss SEC lawsuitThe SEC alleges Kraken is operating an unregistered securities exchange.606 Total views2 Total sharesListen to article 0:00NewsOwn this piec
Looming Legal Issues and Transparency Questions Fail to Dent Tether’s Momentum
Looming Legal Issues and Transparency Questions Fail to Dent Tether’s Momentum Tether has never been more popular. A quick look at Coinmarketcap data underscor
NBA Star Spencer Dinwiddie Just Tokenized His Own Contract
NBA Star Spencer Dinwiddie Just Tokenized His Own Contract The news that Brooklyn Nets star Spencer Dinwiddie was to roll out an Ethereum-based investment vehicle for his own con
Zhiyuan Sun9 hours agoNear Foundation CEO Marieke Flament resignsThe Near Foundation treasury grew to $350 million under Flament"s tenure.1130 Total views14 Total sharesListen to article 0:00NewsJoin us on social network
Tron network deposits drop to 6-month low as TRX price rallies — Trouble in paradise?
Marcel Pechman5 hours agoTron network deposits drop to 6-month low as TRX price rallies — Trouble in paradise?Tron’s total value locked plummeted to a six-month low of $7.6 billion as TRX price rallied. Cointelegraph
Russia to Trial Digital Ruble Settlements for Real Estate Deals
Russia to Trial Digital Ruble Settlements for Real Estate Deals The Central Bank of Russia and participating commercial banks want to test various types of payments with the digita
Tom Mitchelhill7 hours agoPolychain Capital, Coinfund raise $350M for new crypto funds: ReportPolychain Capital raised $200M for its newest fund while Coinfund raised a better-than-expected $152 million.1624 Total views1