Cloudflare Revenue and Growth Statistics (2024)

Cloudflare Key Stats

• More than 7.59 million active websites use Cloudflare.
• Cloudflare has a total of 4.1 million customers, including 119,206 paying customers.
• The internet security company has 945 large customers. And an annualized revenue exceeding $100K.
• Cloudflare generated $431.06 million in revenue in 2020.
• Nearly half (49.38%) of Cloudflare’s revenue came from customers with a billing address outside of the United States.
• Cloudflare currently has more than 1,931 full-time employees.
• Cloudflare is used by 79.5% of all the websites whose reverse proxy service we know. This is 19.1% of all websites.
• 49978+ companies reportedly use CloudFlare in their tech stacks, including Udemy, Lyft, and Hdbest.net.
• A recent report suggests that Cloudflare Analytics is wildly inaccurate as all the bots and other spam is included in the stats.

Source: W3 Techs, Cloudflare

Cloudflare Overview (About the Company)

Cloudflare was launched in 2010, and as of 2021, there were 2,440 people working there, generating revenue of $656.4 million.

Let’s check out some details about the company.

Cloudflare Valuation

Cloudflare was valued at 41.07 billion USD in 2021.

We can observe how Cloudflare’s value went the highest in 2021, at $41.07 billion.

Cloudflare began from nothing and it went high, though we can see a step down from 2021, as it was priced at $25.35 in the third quarter of 2022.

Source: Macro Trends

Cloudflare Revenue

Cloudflare’s revenue in 2022 was of $894 million, being higher than ever before.

Let’s look at this graph and check out the revenue that Cloudflare generated.

The graph from 2016 to 2022 is a stair step type, showing how the company evolved over time. Brilliant, isn’t it?

Source: Macro Trends, Cloudflare

Cloudflare revenue breakdown by region

• The billing address in the US contributed $218.19 million in income for Cloudflare in 2020. That is 50.62% of all revenue generated worldwide. Over the previous year, the company’s revenue from the US market climbed by 50.92%.
• In Q1 2021, Cloudflare’s Europe, Middle East, and Africa (EMEA) revenue share increased from 20.86% in 2016 to 25.73% (25.35% in 2020).
• The Asia Pacific area contributed $76.12 million to Cloudflare’s revenue, an increase of 38.07%  year over year.
• In 2020, “other markets” brought in $27.42 million for Cloudflare (outside of the United States, Europe, the Middle East, Africa, and Asia Pacific). This is an increase of 45.08% from the prior year.

Let’s check out this table for a clearer view that has precise numbers for each year and region of Cloudflare’s revenue.

Source: Cloudflare

Cloudflare revenue breakdown by type of customers

Cloudflare has 64.35% direct customers, and 35.65% of the revenue coming from partnerships.

Cloudflare’s revenue is mainly coming from direct sources, with almost $100 million in August 2022.

Source: Cloudflare

Cloudflare Net Income

• Cloudflare’s net income for the twelve months ending September 30, 2022, was USD 225 million, a 3.75% increase YoY.
• Cloudflare’s annual net income for 2021 was USD 260 million, a 118.07% increase from 2020.
• Cloudflare’s annual net income for 2020 was USD 119 million, a 12.8% increase from 2019.
• Cloudflare’s annual net income for 2019 was USD 106 million, a 21.41% increase from 2018.

Last year’s net income was of $225 million, being just a bit under 2021’s net income. Just like any other business, Cloudflare has seen both brighter and darker days.

Source: Macro Trends

How much funding has Cloudflare raised? (Cloudflare Funding)

Cloudflare has raised $332.2 million in investment over eight rounds. Their most recent funding came from a Series E round on March 12, 2019.

There have been 8 previous fundings in Cloudflare. The first one was in 2009, and the most recent one being 10 years after their very first investing.

Source: Crunchbase

Cloudflare Investors

Cloudflare is funded by 15 investors. Franklin Templeton Investments and Employee Stock Option Fund are the most recent investors.

Source: Crunchbase

Cloudflare Acquisitions

Cloudflare has acquired 9 organizations. Their most recent acquisition was Area 1 Security on Feb 23, 2022. They acquired Area 1 Security for $162M.

Source: Crunchbase

How does Cloudflare make money?

Cloudflare makes money in three ways:

• Subscriptions,
• Pay-as-you-go services
• Enterprise partnerships

Source: Tweaks

How much do Cloudflare service subscriptions cost? (Monthly, Yearly & Lifetime Billing)

Source: Cloudflare

How many Cloudflare customers renew subscriptions automatically? (Active Users Billing)

The latest information is from August 2022, when there have been over 340,000 automatic renewals for Cloudflare subscriptions.

Source: Cloudflare

Cloudflare’s total operating expenses

Cloudflare’s operating expenses totaled $436.77 million in 2020. That’s an increase of 31.74% over the previous year.

Source: Cloudflare

Cloudflare sales and marketing expenses

Cloudflare’s sales and marketing expenses amounted to $217.87 million in 2020, making up 49.88% of total operating expenses.

Source: Cloudflare

Cloudflare research and development expenses

With the expansion of Cloudflare as a business, more expense has to go into research and development. We can see this contrast in each year since 2016:

In 2016, Cloudflare began with $23.66 million in research and development expenses, and in the first quarter of 2021, they’ve invested $28.47 million.

The highest expenses in this domain were recorded in 2020, with $127.14 million dedicated to research purposes.

Source: Cloudflare

Cloudflare general and administrative expenses

Regarding administrative expenses, these also go higher as the business grew larger. Let’s check the data for this.

In 2016, there have been $14.07 million expenses in the administrative side, jumping all the way to $91.75 million in 2020.

It’s most likely that these numbers went higher in 2020 due to the COVID-19 lockdown, when there was an explosion in almost every online service.

Source: Cloudflare

How many people work at Cloudflare?

In 2022, there were recorded over 3000 employees at Cloudflare. In contrast, there were just 865 people working for the company in 2018.

Yet again, we see a larger expansion from 2019 to 2020, with 518 new people joining the company.

This probably was also influenced by the 2020 lockdown, when the company might’ve needed more people working for them.

Source: H1B Data, Comparably, Cloudflare

How many websites use Cloudflare?

Cloudflare is used by 7.59 million websites worldwide.

Source: Earth Web

Where is Cloudflare available?

Cloudflare is a global network. It is available in more than 100 countries.

Source: Cloudflare

Cloudflare customers by country

The United States accounts for 1,570,814 (19.28%) of all live Cloudflare websites.

Followed by the United States is the United Kingdom and Brazil. Below you can see the list of most countries’ consumers at Cloudflare:

Fun fact: Cloudflare has more way consumers in the United States has than the United Kingdom and Brazil altogether.

Source: Builtwith

Top companies using Cloudflare

Here are a few examples of companies you might’ve heard about that is using Cloudflare:

• Udemy
• Lyft
• Hdbest.net
• Bitpanda
• Tinder
• Medium
• Somfilms.net
• Z-shadow.info
• DoorDash
• Canva
• Etsy
• BBC Shop
• Walmart
• Best Buy
• Trendyol
• Dell
• Nike
• H&M
• Lenovo

Source: Stack Share, Influencer Marketing Hub

How many people use Cloudflare DNS?

Cloudflare is used by 80.5% of all the websites whose reverse proxy service. This is 19.4% of all websites.

For reference, there are currently over 1.13 billion websites in the World (January 2023). This counts the active and the unactive websites altogether.

Source: Cloudflare

Does Cloudflare limit traffic?

Cloudflare does not enforce response limits, but cache limits for Cloudflare’s CDN are observed Open the external link. The maximum file size is 512 MB for Free, Pro, and Business customers and 5GB for Enterprise customers.

Source: Cloudflare

What is Cloudflare’s CDN market share?

Currently, Cloudflare Is used by 79.9% of all websites that rely on Content Delivery Networks (CDN).

Source: W3 Techs

Who are Cloudflare users? (Cloudflare users’ demography )

Cloudflare users’ distribution by gender

There are 22.31% women and 76.69% men among cloudflare.com‘s users.

Source: Similar Web

Cloudflare users’ distribution by age

The most common age group of cloudflare.com visitors is 25 to 34 years old.

Source: Similar Web

How many app downloads did Cloudflare get in 2022?

• Cloudflare have more than 100 million android app downloads
• Cloudflare have more than  226,400 iOS app downloads

Source: Play Google, Apps Apple

Cloudflare Web Traffic Analysis

Cloudflare top marketing channels

The top traffic source to Cloudflare.com is direct traffic, driving 67.58% of desktop visits last month, and search is the 2nd with 23.94% of traffic

Source: Similar Web

Social media traffic to Cloudflare

Cloudflare.com gets most of its social media traffic from YouTube, followed by Facebook and Reddit.

Source: Similar Web

What is Cloudflare traffic and engagement analysis by country?

Cloudflare.com’s core audience is located in the United States followed by India, and Brazil in the last three months.

Source: Semrush

What is the average time spent by users on cloudflare.com?

The average time spent by Cloudflare website visitors is 5 minutes and 7 seconds.

Source: Similar Web

Who founded Cloudflare?

Matthew Prince, Lee Holloway and Michelle Zatlyn co-founded Cloudflare on September 27, 2010.

Cloudflare founder’s net worth

Matthew Prince is currently worth more than USD 3.2 billion.

• Matthew Prince co-founded the web infrastructure and security company Cloudflare in 2009. It went public in September 2019.
• Prince owns about 10% of the company and serves as CEO.
• Pre-IPO, its investors included Google’s venture firm CapitalG, Microsoft, Baidu and Qualcomm Ventures.
• Before Cloudflare, Prince was a law professor and cofounded Unspam Technologies, which helped block spam content for clients.
• He is age 47 years old as of November 2022
• His Source of Wealth is through cybersecurity service
• Lives in Park City, Utah, and is a United States Citizen.
• He is Married
• He has a Master of Business Administration, from Harvard Business School; a Bachelor of Arts/Science, from Trinity College Connecticut; Doctor of Jurisprudence, from the University of Chicago

Source: Forbes