Imagine if there’s a day that technology would brought the entire world to a pausing halt.
That was yesterday.
CrowdStrike Holdings has long dominated the market for cloud-based software which is meant to protect customers’ networks from hackers, but a botched software update has other plans that brought businesses from airlines to banks to a screeching halt which impacted billions of dollars in the market.
The massive outage linked to cybersecurity company CrowdStrike could be the largest ever seen after the issue caused disruption to Microsoft’s systems around the world.
CrowdStrike’s stock declined 11.1% on Friday to log its worst one-day drop since it fell 14.8% back in 2022. In earlier session, it fell to as much as more than 15%.
Several companies, notably in the Fortune 500 corporations are getting fed-up with relying on just a single cloud software vendor, and this might just prompt some of these companies to make a potential switch to a cybersecurity rival in the near future to come....