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Former Amazon exec gives Chinese firms a tool to fight cyber threats – TechCrunch

Document Analysis NLP IA

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redaction

Subjectivity0.32224702380952
probably it's an affirmation
Affirmation0.42283950617284

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Summary (IA Generated)

China is pushing forward an internet society where economic and public activities increasingly take place online.

One startup called ThreatBook sees an opportunity in this revolution and pledges to protect corporations and bureaucracies against malicious cyberattacks.

Antivirus and security software has been around in China for several decades, but until recently, enterprises were procuring them simply to meet compliance requests, Xue Feng, founder and CEO of six-year-old ThreatBook, told TechCrunch in an interview.

Companies realized that a cyber attack could result in a substantial financial loss and started to pay serious attention to security solutions.

“The amount of cyberattacks between countries is reflective of their geopolitical relationships,” observed Xue, who oversaw information security at Amazon China before founding ThreatBook.

Previously, he was the director of internet security at Microsoft in China.

Like other emerging SaaS companies, ThreatBook sells software and charges a subscription fee for annual services.

Xue declined to disclose the company’s revenues or valuation but said 95% of the firm’s customers have chosen to renew their annual subscriptions.

ThreatBook compares itself to CrowdStrike from Silicon Valley, which filed to go public in 2019 and detect threats by monitoring a company’s “endpoints”, which could be an employee’s laptops and mobile devices that connect to the internal network from outside the corporate firewall.

ThreatBook similarly has a suite of software that goes onto the devices of a company’s employees, automatically detects threats and comes up with a list of solutions.

“It’s like installing a lot of security cameras inside a company,” said Xue.

Of the 3,000 companies that ThreatBook serves, only 300 are paying so there is plentiful room for monetization.

There may even be room for us in markets with mature like Europe and North America,” said Xue.


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