Fastly (FSLY) Acquires Web Application Development Platform Glitch

Quickly Inc. FSLY recently announced the acquisition of Glitch, a web coding platform that enables new and experienced coders to quickly build and deploy small web applications. It is a comprehensive platform that officially supports JavaScript, but also allows coding in CSS, HTML, and other languages.

As part of the agreement, Fastly will integrate Glitch into its network, which will allow Glitch users to access Fastly’s web application firewall, image optimization and fast boot times.

Glitch will continue to operate within Fastly, with Fastly planning to grow the team and enable Glitch apps to leverage its cutting-edge computing services.

The acquisition follows a partnership between the companies earlier this year, which brought Glitch to [email protected], one of Fastly’s flagship products. [email protected] is a distributed application platform for running applications in edge environments on Fastly hardware.

Fastly also hopes to integrate the Glitch community into its development process by collecting feedback shared by Glitch’s 1.8 million monthly users.

Fastly, Inc. Pricing and Consensus

Fastly, Inc. Price Consensus Chart | Quote from Fastly, Inc.

Strong acquisitions and partnerships to drive customer growth

Fastly is an infrastructure software provider that powers cloud computing, image optimization, security, edge computing technology, and broadband streaming solutions. They are considered part of a cloud niche called Content Delivery Networks or CDNs.

The acquisition of Signal Sciences to further strengthen security offerings is promising at a time when data protection has become increasingly critical. The company is increasingly focused on integrating Signal Sciences’ application security capabilities into a new unified product offering called [email protected]

In Q1 2022, Fastly launched the first Signal Sciences and an integrated edge computing product called Next Gen WAF (powered by Signal Sciences). These should contribute to the growth of business customers in the short term.

In the first quarter of 2022, revenue grew 21% year-over-year to $102.4 million, driven by the continued adoption of its modern edge platform and products, as well as than a $4.6 million increase in revenue related to products acquired through the acquisition of Signal Sciences.

Fastly’s focus on large companies like Datadog DDOG also makes it immune to recessionary threats faced by sectors such as retail, travel and tourism, and small and medium-sized businesses. As of March 31, 2022, the company had 457 enterprise clients, which generated 89% of total revenue for the last 12 months ended March 31, 2022.

Datadog uses the company’s API to pull real-time statistics and analytics to display in its dashboard.

Additionally, this Zacks #3 (Hold) company’s focus on attracting customers outside the United States and expanding its international footprint is expected to drive revenue growth. As of March 31, 2022, Fastly’s edge network covers 54 markets and 33 countries outside of the United States. You can see the full list of today’s Zacks #1 (Strong Buy) rank stocks here.

Additionally, the company’s proprietary Private Network Interconnections (PNIs) and peering agreements with major cloud providers, such as Alphabetfrom GOOGL Google Cloud Platform, Microsoft MSFT Azure, Amazon Web Services and others to eliminate or minimize egress charges, strengthen security and improve overall performance remains a key enabler.

Tight integration with Google Cloud Platform allows real-time enterprise logs to be streamed to any Google Cloud Platform big data service, including Google Cloud Storage, BigQuery, and Bigtable. Likewise, integration with Microsoft Azure allows real-time logs to be streamed to both Azure Blob Storage and Kusto.

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