|Type of business||Public|
|Key people||Joshua Bixby (CEO)|
Tyler McMullen (CTO)
Ronald W. Kisling (CFO)
|Revenue||US$290.874 Million (Fiscal Year Ended 31 December 2020)|
|Operating income||-US$107.212 Million (Fiscal Year Ended 31 December 2020)|
|Net income||-US$95.932 Million (Fiscal Year Ended 31 December 2020)|
|Total assets||US$1.219 Billion (Fiscal Year Ended 31 December 2020)|
|Total equity||US$1.061 Billion (Fiscal Year Ended 31 December 2020)|
Fastly is an American cloud computing services provider. It describes its network as an edge cloud platform, which is designed to help developers extend their core cloud infrastructure to the edge of the network, closer to users. The Fastly edge cloud platform includes their content delivery network (CDN), image optimization, video and streaming, cloud security, and load balancing services. Fastly's cloud security services include denial-of-service attack protection, bot mitigation, and a web application firewall. Fastly web application firewall uses the Open Web Application Security Project ModSecurity Core Rule Set alongside its own ruleset.
Fastly was founded in 2011 by Artur Bergman, previously chief technical officer at Wikia (now Fandom). In June 2013, Fastly raised $10 million in Series B funding. In April 2014, the company announced that they had acquired CDN Sumo, a CDN add-on for Heroku. In September 2014, Fastly raised a further $40 million in Series C funding, followed by a $75 million Series D round in August 2015.
In September 2015, Google partnered with Fastly and other content delivery network providers to offer services to its users. In April 2017, Fastly launched its edge cloud platform along with image optimization, load balancing, and a web application firewall.
Fastly raised $50 million in funding in April 2017, and another $40 million in July 2018. The company filed for an initial public offering (IPO) in April 2019 and debut on the New York Stock Exchange on May 17, 2019. In February 2020, Bergman stepped down as CEO and assumed the role of chief architect and executive chairperson; Joshua Bixby took over the CEO role.
In August 2020, Fastly announced it was acquiring cybersecurity company Signal Sciences for $775 million ($200 million in cash and $575 million in stock).
In June 2021, Ronald W. Kisling, previously employed by Alphabet as the CFO of the Fitbit division, was hired to serve as Fastly's CFO, succeeding Adriel Lares. He assumed the position in August 2021.
Fastly's CDN service follows the reverse proxy model, routing all website traffic through their own servers instead of providing a 'cdn.mydomain.com' address to store site-specific files. It then fetches content from the point of presence nearest to the location of the requesting user, out of nearly 60 worldwide. It is priced as a pay-as-you-go service subject to a US$50 per month minimum charge, with bandwidth charged at variable rates depending on region. Content is not directly uploaded to their servers, rather it is pulled periodically from the origin server and cached in order to reduce the time required for an end-user to access the content.
On 8 June 2021, Fastly reported problems with their CDN service which caused many major websites, such as Reddit, gov.uk, Twitch, Spotify and Amazon, along with major news sources such as The New York Times, The Guardian, CNN and the BBC, to become unavailable. Affected tech news outlet The Verge resorted to using Google Docs to report on the ongoing outage.[better source needed] It also affected certain parts of other major websites, such as the servers hosting the emojis used by Twitter, resulting in them becoming inaccessible. The outage was resolved by Fastly after a few hours. Fastly has since stated that the cause of the outage was a software bug triggered by a specific user configuration.
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