Executive Summary
Cloudflare processes over 20% of global web traffic and blocks 2.5 million cyberattacks per second through a single global network spanning 330 cities. The company has evolved from a freemium web security provider to a comprehensive cybersecurity and developer platform generating over $2 billion in annualized revenue. Three distinct business lines drive growth: Act 1 (web security, ~67% of revenue), Act 2 (internal corporate security, ~30%), and Act 3 (developer platform, emerging). The enterpri...
Key Investment Opportunity
AI Infrastructure Layer Play
Cloudflare's edge network positions them as critical AI infrastructure, serving 80% of top AI companies while offering inference at lower latency than hyperscalers
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