Tech Vigil
No Result
View All Result
  • Login
  • Home
  • Business
    • Cell Phone
  • Computers
    • Data Security
  • Digital Marketing
    • E-Commerce
  • Gadgets
    • Apps
  • Laptops
    • Microsoft
    • Software
  • Networking
  • Tech
  • Contact
  • Pages
    • About Us
    • DMCA
    • Privacy Policy
    • Terms and Conditions
  • Home
  • Business
    • Cell Phone
  • Computers
    • Data Security
  • Digital Marketing
    • E-Commerce
  • Gadgets
    • Apps
  • Laptops
    • Microsoft
    • Software
  • Networking
  • Tech
  • Contact
  • Pages
    • About Us
    • DMCA
    • Privacy Policy
    • Terms and Conditions
No Result
View All Result
Tech Vigil
No Result
View All Result
Home Data Security

Silicon Valley Brothers Build Billion Dollar Cyber-Security Fortunes

Ronnie Daniels by Ronnie Daniels
February 11, 2019
Reading Time:2min read
0

The Chinese-born brothers are now billionaires from their stakes in Fortinet Inc., the Silicon Valley-based network security software firm they co-founded almost two decades ago, according to the Bloomberg Billionaires Index.

RELATED POSTS

The 8 key methods to evaluate healthcare facts protection tools

NCipher, Credence Security

Don’t Acquire a Company Until You Evaluate Its Data Security

Spurred by high-profile data breaches and malware attacks, cybersecurity has become a growing priority for companies. Cloud-focused firms including Fortinet and Palo Alto Networks Inc. have benefited as businesses update their computer infrastructures, posing a threat to more established network software providers such as Cisco Systems Inc. and Juniper Networks Inc. Fortinet counts most Fortune 500 companies as its customers, according to its website.

β€˜Fragmented Market’
β€œIt’s been one of the innovative companies for next-generation products as companies have looked to cyber more,” said Mandeep Singh, a senior technology analyst at Bloomberg Intelligence. β€œIt’s a fragmented market, so there’s plenty of room for a player to boost their position.”
The cyber-security software market should grow 10 percent a year through 2023, according to research firm MarketsandMarkets. Fortinet is outpacing that, with 2018 revenue increasing 20 percent to $1.8 billion from a year earlier. The firm’s shares closed at $81.22 on Wednesday, more than six times its 2009 public offering price. They dipped on Thursday after fourth-quarter adjusted profit missed analysts’ estimates.
β€œWe are excited about the significant opportunity ahead,” Ken Xie, 56, who’s the chief executive officer, said on a call Wednesday after Fortinet reported results. He predicted continued growth in 2019, but added: β€œyou need to keep up the innovation.”

Family Venture
Ken Xie has been a U.S. citizen since 1998 and started his first cyber-security company while studying electrical engineering at Stanford University. He co-founded Fortinet in 2000 after creating and then leaving another online security firm, NetScreen Technologies. Juniper Networks acquired NetScreen in a 2004 all-stock deal valued at $4 billion.

A decade and a half later, Fortinet’s $13 billion valuation exceeds that of Juniper Networks. Ken Xie is the largest individual shareholder, with a 7.4 percent stake worth $1 billion. He’s also collected more than $40 million through share transactions, according to data compiled by Bloomberg.

Michael Xie, the firm’s president and chief technology officer, studied electrical engineering at the Canada’s University of Manitoba. He owns a 7.1 percent stake, with almost half held through family trusts, and has collected more than $70 million through share transactions.

ADVERTISEMENT

Among other cyber-security companies, Check Point Software Technologies Ltd. CEO Gil Shwed has a $2.9 billion stake and Palo Alto Networks co-founder Nir Zuk’s shares are worth almost $300 million.

ShareTweetPin
Ronnie Daniels

Ronnie Daniels

Related Posts

The 8 key methods to evaluate healthcare facts protection tools
Data Security

The 8 key methods to evaluate healthcare facts protection tools

April 18, 2019
NCipher, Credence Security
Data Security

NCipher, Credence Security

April 18, 2019
Don’t Acquire a Company Until You Evaluate Its Data Security
Data Security

Don’t Acquire a Company Until You Evaluate Its Data Security

April 18, 2019
Why purge is the subsequent cyber buzzword
Data Security

Why purge is the subsequent cyber buzzword

April 18, 2019
Filling the Cybersecurity Void
Data Security

Filling the Cybersecurity Void

April 18, 2019
Justdial Says Data Leak Affecting a hundred Mn Users Fixed
Data Security

Justdial Says Data Leak Affecting a hundred Mn Users Fixed

April 18, 2019
Next Post
Carbonite to Unify Security and Data Protection by way of Acquiring Webroot

Carbonite to Unify Security and Data Protection by way of Acquiring Webroot

Enterprise digital transformation leaves information protection at the back of

Enterprise digital transformation leaves information protection at the back of

No Result
View All Result

Today Trending

5 Must Know Mac Shortcuts
Laptops

5 Must Know Mac Shortcuts

by Ronnie Daniels
December 22, 2020
5 Great Adobe Spark Tips and Tricks to Perfect Your Craft
Software

5 Great Adobe Spark Tips and Tricks to Perfect Your Craft

by Ronnie Daniels
December 20, 2020
Laptops

Buying a Laptop? Tips on What to Look For (What to Avoid)

by Ronnie Daniels
December 15, 2020
Marketing
Digital Marketing

Join Affiliate Marketing & Get Paid for Your Marketing Skills

by Ronnie Daniels
December 2, 2020
How to choose best SEO Services?
Tech

How to choose best SEO Services?

by Ronnie Daniels
November 2, 2020

Editior's Picks

Cell Phone

Cleveland man charged in armed robbery at Glenville cellphone store

February 13, 2019
Innovations in advertising: 2019 virtual advertising and marketing developments
Digital Marketing

Innovations in advertising: 2019 virtual advertising and marketing developments

February 12, 2019
Property platform Ohmyhome selections Publicis Groupe companies for digital advertising
Digital Marketing

Property platform Ohmyhome selections Publicis Groupe companies for digital advertising

February 11, 2019
A Snapshot Of Cell Phone Camera History
Cell Phone

A Snapshot Of Cell Phone Camera History

April 18, 2019
Post-CES ’19: Will gaming laptops subsequently hobby seasoned-gamers?
Laptops

Post-CES ’19: Will gaming laptops subsequently hobby seasoned-gamers?

February 14, 2019

About Us

TechVigil is the best website where You can get daily update on internet stuff just like digital Marketing, mobile and tech also many more so subscribe our newsletter to never miss any update from us.

Contact Us: [email protected]

Editior’s Picks

  • 5 Must Know Mac Shortcuts
  • 5 Great Adobe Spark Tips and Tricks to Perfect Your Craft
  • Buying a Laptop? Tips on What to Look For (What to Avoid)
  • Join Affiliate Marketing & Get Paid for Your Marketing Skills
  • How to choose best SEO Services?

Newsletter

Latest Post

5 Must Know Mac Shortcuts
Laptops

5 Must Know Mac Shortcuts

by Ronnie Daniels
December 22, 2020

Β© 2020- TechVigil | All Rights Reserved To Us

No Result
View All Result
  • About Us
  • Contact
  • DMCA
  • Home
  • Privacy Policy
  • Terms and Conditions

Β© 2020- TechVigil | All Rights Reserved To Us

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In