Buyer beware: Cloudflare in warning to IPO investors
Cloudflare, a firm that helps websites protect and distribute content, has warned potential investors in its initial public offering that risks to its business go beyond the boilerplate Silicon Valley advisory that it may never become profitable.
The company said in its IPO filing that the risks include negative publicity from the use of its network by 8chan, a site favoured by white supremacists and used by gunmen before shootings in El Paso, Texas and Christchurch, New Zealand.
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It also cited the use of its services by neo-Nazi website The Daily Stormer around the time of the 2017 protests in Charlottesville, Virginia.
Activities of such groups have had "significant adverse political, business and reputational consequences", Cloudflare said in the filing.
Terminating those accounts, though, has raised censorship concerns, it said.