Fastly is a leader in Content Delivery Networks. It was founded in 2011 by developers for developers. It helps companies to accelerate the speed of their internet traffic.
Fastly users include innovative companies such as Wayfair, The New York Times, Shopify, Github, Pinterest, Yelp, etc.
It’s major competitors are Akamai Technologies and Limelight Networks. But Fastly’s network management tools and edge computing services are developer-friendly.
Management owns 86% of Class B shares and controls about 69% of the voting power. Therefore, management makes sure that the stock performs well else it will affect them at the individual level.
Throughout their operations, their customer retention rate has increased. Also the existing and new customers are spending more on Fastly.
Fastly has continuously delivered impressive quarterly results and beat analyst expectations. They are also running on positive cash flow.