When demand drops, the network cuts back on the number of servers delivering content. Customers don't have to add hardware or change Internet access to use the service. With faster response times, Akamai customers will be able to post more complex pages.
The software runs on each server, distributing intelligence around the network so adjustments are made without intervention from a central site. Despite the immense traffic to the NetAid site, there were no crashes or delays, a far cry from the debacle that took place several months earlier when Victoria's Secret attempted to webcast a fashion show without the support of a dynamic system like FreeFlow.
Very quickly Akamai became a Wall Street darling, involved in a sector essentially any company even remotely connected to the Internet that was proving irresistible to investors. Even MIT graduate students who performed summer and part-time work for stock options were now millionaires. Akamai has transformed the Internet from a chaotic network into a predictable, scalable, and secure business platform.
With its coffers full and high-priced stock at its disposal, Akamai began to fill out its business through external means. Until this time, Akamai was limited to working in Apple's QuickTime stream format, so that customers working in another format would have to provide Akamai with a streaming media file.
The outlook for the company continued to look rosy in , but as the tech sector began to sour, along with the economy in general, Akamai got caught up in the downward spiral when the dotcom bubble began to burst. The company had quickly ramped up its hiring and bought a lot of real estate, only to see a large percentage of its customers going out of business, unable to afford its service, or delaying investments.
During the first half of Akamai lost more than 12 percent of its recurring contracts. The price of its stock began to plummet as a result, and the company was forced to make deep cuts in staffing and to terminate leases. Akamai eventually bottomed out in , worth little more than 50 cents per share. The year also was marked by personal tragedy. Ironically, the act that cost his life also demonstrated the value of the Internet trafficking system he helped to develop, as the Internet was besieged with requests for information from people keeping track of events and Akamai's customers were able to cope with the spike in demand.
Although the company continued to lay off staff in the remaining months of , its performance on September 11 led to an increase in customers and played a significant role in Akamai beginning to rebound in Akamai launched a new product in , EdgeSuite, and began targeting large companies interested in establishing a significant web presence. EdgeSuite was essentially a more robust version of FreeFlow: combining the earlier dynamic traffic control features with added security features, increased speed on digital downloads, and the ability to deliver streaming media.
Akamai was also successful in attracting government customers, selling EdgeSuite to the Federal Bureau of Investigation FBI , whose web site had experienced an increased level of traffic after September Visit our privacy policy for more information about our services, how GlobalData UK Limited may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
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Akamai Reports Q3 Financial Results. Akamai Reports Q2 Financial Results. Akamai Technologies, Inc. The Company is providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Security Technology Group includes solutions that are designed to protect business online by keeping infrastructure, Websites, applications and users safe.
The Edge Technology Group includes solutions that are designed to enable business online, including media delivery, Web performance and edge computing solutions. Contact Info. United States.
Executive Leadership. Rick M. Thomson Leighton. Edward J. Adam Karon.
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