The executive, who was in line to become the company’s global CIO, sold $1 million worth of shares based on confidential info that alerted him to the hack, the SEC alleged. Securities and Exchange Commission charged Jun Ying, a chief information officer at Equifax, of trading on inside information with respect to the credit bureau’s big data breach last year. (Industry best practices dictate that CTS should have given AMD months to address such problems before going public.)
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Although CTS withheld technical details about how to exploit the flaws, critics argued that CTS’s disclosures were irresponsible. CTS caught flak for alerting AMD to the issues only one day prior to disclosing its findings, a move likely motivated by its apparent “economic interest” in the performance of the chipmaker’s shares. Cybersecurity firm CTS Labs said Tuesday it discovered four security vulnerabilities in computer chips made by AMD. This is the first time the government has officially accused agents of the Kremlin as culprits behind this recent attack campaign, dubbed “Dragonfly” by security researchers. Moscow’s intruders have had access to sabotage the operation of critical facilities, as new screenshots in a notice from the Department of Homeland Security has revealed. Russian state hackers have been establishing a frightening, digital foothold within America’s power plants, the Trump administration warned Thursday. You may reach Robert Hackett via Twitter, Cryptocat, Jabber (see OTR fingerprint on my ), PGP encrypted email (see public key on my Keybase.io), Wickr, Signal, or however you (securely) prefer. Robert to the Cyber Saturday edition of Data Sheet, Fortune’ s daily tech newsletter. Get that green, dear readers, and have a great weekend. I suspect that might involve more hardware clobbering at trade shows. Until then, he said he plans to pour proceeds from the IPO into Zscaler’s sales and marketing.
If Zscaler’s market debut is any indication, Chaudhry will have that opportunity. He said he admires Microsoft cofounder Bill Gates’ approach to charitable giving which is to say, “funding philanthropy as a business, not just throwing money out there.” “When I retire, my next conviction is to build a non-profit in a philanthropic area to fix education,” Chaudhry told me. for graduate school, told me it is also his last-though he does have another act in him. The Indian entrepreneur, who grew up in a small Himalayan village and moved to the U.S.
The incumbents are keen to double down on this growing area of the market, but Chaudhry believes he can outrun them. In its prospectus filing, the company listed tech giants like Symantec (which acquired Blue Coat for $4.65 billion in 2016) and Cisco (which acquired OpenDNS for $635 million in 2015) among its competition. Zscaler does not go unchallenged, however. Instead of circumscribing corporations within moats, Zscaler employs omnipresent sentries. “Network security is dead because you no longer control the network,” Chaudhry is fond of saying. Zscaler funnels the Internet traffic of its customers, including industrial titans like Siemens and GE, through its global network of more than 100 data centers for inspection, filtering, and scrubbing. “I’m not going to second guess the decision.”Ĭhaudhry is capitalizing on businesses’ transition to the cloud in the same way that Marc Benioff, founder and CEO of Salesforce, did before him. “We felt it was a good price,” he said, noting that underwriters Morgan Stanley and Goldman Sachs helped select it. He said he did not regret the IPO price point, even though it left considerable money on the table. I caught up with Jay Chaudhry, Zscaler’s founder and CEO, in the hours after his company listed on the NASDAQ exchange. Despite raising the price of its shares twice in the days preceding the IPO, Zscaler’s 16.8 million shares more than doubled to $33 per share during their first day of trading. Further, the company’s market performance utterly shattered Wall Street’s expectations. Founded 11 years ago, the cloud security firm on Friday became the first tech “ unicorn“-or billion-dollar startup-to go public in 2018. To transfixed foot traffic, it is “ Zscaler.”Įven in the lead-up this week to hotly anticipated initial public offerings from Dropbox and Spotify, Zscaler somehow still thrust itself into the spotlight. To neighboring stands, this kiosk is a nuisance. If you’re in the habit of strolling the showroom floor at cybersecurity conferences, you’ll likely have encountered a booth wherein a man pulverizes data center appliances with a sledgehammer. Good morning and happy Saint Patrick’s Day, Cyber Saturday readers.
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