Okta cybersecurity breach wipes out more than $2 billion in market cap
Summary
The Okta Inc. website on a laptop computer arranged in Dobbs Ferry, New York, U.S., on Sunday, Feb. 28, 2021. Okta has shed more than $2 billion from its market valuation since the company disclosed a hack of its support systems on Friday. Okta shares slumped more than 11% on Friday after the company said that an unidentified hacking group was able to access client files through a support system. Okta is a lesser-known name but forms a critical part of cybersecurity systems at major corporations. Zoom , for example, uses Okta to give "seamless" access through a single login to the companys Google Workspace, ServiceNow , VMWare and Workday platforms.
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applications
Web and Content Management
AskAI Classifications
Labels
Identity and Access Management
Cybersecurity Software
SaaS
Linked Companies
Okta
$1M to $5M