Microsoft Outage Chaos: CrowdStrike Update Blamed (But Who Owns Them?)

Flights, banking services, and stock exchanges are all affected by the outage, which is being blamed on a configuration change that has impacted Microsoft 365 services.

CrowdStrike, a US cybersecurity firm that works with Microsoft, is said to have played a major role in the outage. The outage has affected Microsoft services in Australia, the US, and other regions.

What is CrowdStrike?

CrowdStrike is a cybersecurity firm that helps companies protect their IT environments. In simple terms, CrowdStrike helps companies preserve their internet-based operations from hackers. Its main focus is to protect companies from hackers, cyberattacks, ransomware, and data leaks. This is why its major customers include large banks, universities, and government agencies worldwide. The cybersecurity landscape has changed significantly in recent years. The increase in cyberattacks has made companies more reliant on firms like CrowdStrike.

What is CrowdStrike used for?

One of the company’s main products is CrowdStrike Falcon. According to the company, CrowdStrike Falcon provides users with real-time visibility into cyberattacks. It also offers hyper-accurate detection and automated protection.

Thousands of companies use this product. It is believed that a crash in their servers on Friday was the cause of the global outage of Microsoft services. Earlier this week, CrowdStrike released an update for its Falcon product.

Who owns CrowdStrike?

The company was founded in 2012 by former McAfee employee George Kurtz. It does not have a single owner, but rather a mix of individual investors, institutions, and retail investors. The stock is divided into two main investor categories.

Institutional investors own 40% of the stock, while public companies and individual investors own 57%. The largest shareholder is the Vanguard Group, a US investment fund. It owns 6.79% of the company.

Additional Information:

• The Microsoft outage was one of the largest in recent history.
• The outage caused billions of dollars in economic damage.
• CrowdStrike is working to improve its products and services to prevent future outages.