Elastic NV

Last updated
Elastic N.V.
FormerlyElasticsearch
Company typePublic company (NV)
IndustrySoftware
Founded2012;13 years ago (2012)
Founders
Headquarters
Key people
  • Ashutosh Kulkarni (CEO)
  • Shay Banon (CTO)
  • Navam Welihinda (CFO)
ProductsSearch software
RevenueIncrease2.svg US$608 million (2021) [1]
Increase2.svgUS$−129 million (2021) [1]
Increase2.svgUS$−129 million (2021) [1]
Total assets Increase2.svgUS$973 million (2021) [1]
Total equity Increase2.svgUS$451 million (2021) [1]
Number of employees
2,179 (April 2021) [1]
Website www.elastic.co

Elastic NV is an American-Dutch software company that provides self-managed and software as a service (SaaS) offerings for search, logging, cyber security, observability, analytics, and generative AI use cases. [2] [3] It was founded in 2012 in Amsterdam, the Netherlands, and was previously known as Elasticsearch. [4]

Contents

Elasticsearch is also implemented in use cases such as application search, site search, enterprise search, logging, infrastructure monitoring, application performance management, security analytics (also used to augment security information and event management applications), and business analytics. The Elasticsearch meetup community totals more than 100,000 members. [5] Elastic is publicly traded on the New York Stock Exchange under the symbol ESTC. [6]

History

The idea for a search engine product came to Shay Banon, one of Elastic's founders, in 2004 while he was developing a recipe software application for his wife, who was studying at Le Cordon Bleu. [7] [8] He built Elasticsearch in 2009 and spent three years developing the product along with the open-source community. [9] In 2012, he co-founded the company Elasticsearch with Simon Willnauer, Steven Schuurman, and Uri Boness. [7]

In 2015, the company acquired Found, a cloud-based Elasticsearch provider. Found offered a turnkey solution that automated processes such as installation, configuration, maintenance, and backup of Elasticsearch clusters. Following the acquisition, Found's products were integrated into Elastic's offerings. [10] With the acquisition, the founders rebranded the company as Elastic, stating that it offered more than just search solutions. While the company had been informally referred to as Elastic since its inception, it was not its official name. [11] The following year, Elastic acquired Prelert, a behavioral analytics vendor specializing in anomaly detection using machine learning, as part of its effort to compete with observability vendor Splunk. Banon stated that Elastic became interested in Prelert after encountering the company at one of its conferences years earlier and learning that it integrated with the Elastic ecosystem. [12]

Citing headwinds from the global macroeconomic environment, Elastic NV announced a 13% reduction in headcount on November 30, 2022. [13] [14]

Products

The company develops the Elastic Stack—Elasticsearch, Kibana, Beats, and Logstash—previously known as the ELK Stack, [15] free and paid proprietary features (formerly called X-Pack), Elastic Cloud (a family of SaaS offerings including the Elasticsearch Service), and Elastic Cloud Enterprise (ECE). [16] [17]

Elasticsearch technology is used by eBay, Wikipedia, Yelp, Uber, Lyft, Tinder, and Netflix. [18] [19]

Acquisitions

Elastic N.V.,has made several strategic acquisitions to expand its product offerings and capabilities.

  1. Prelert – In 2016, Elastic acquired Prelert, a machine learning company specializing in anomaly detection. [12] [20]
  2. Swiftype – In 2017, Elastic acquired Swiftype, a provider of search and index software. [21]
  3. Endgame – In 2019, Elastic acquired Endgame, an endpoint security provider, for $234 million. [22]
  4. build.security – In 2021, Elastic acquired build.security, a cloud security company focusing on policy definition and enforcement. [23] [24]
  5. Cmd – In 2021, Elastic acquired Cmd, a company that provides organizations with intuitive monitoring and control over their Linux environment. [25]
  6. Optimyze – The most recent acquisition was Optimyze on October 14, 2021 which is a cloud computing company based in Zurich. [26]

References

  1. 1 2 3 4 5 6 "Elastic N.V. 2021 Annual Report (Form 10-K)". SEC.gov. U.S. Securities and Exchange Commission. 25 June 2021.
  2. ↑ DeFrancesco, Robert (2019-09-29). "Elastic's Core Search Technology Powers Multiple Growth Levers". Forbes. Archived from the original on 2019-09-30. Retrieved 2019-09-29.
  3. ↑ Kerner, Sean Michael (May 15, 2024). "Elastic launches scalable Search AI Lake for Gen AI and vector search". VentureBeat.
  4. ↑ Kepes, Ben. "Elasticsearch Changes Its Name, Enjoys An Amazing Open Source Ride And Hopes To Avoid Mistakes". Forbes. Retrieved 2019-04-10.
  5. ↑ "Elasticsearch groups". Meetup. Retrieved 2019-04-10.
  6. ↑ Colville, Jordan Novet, Waverly (2018-10-05). "Elastic ESTC IPO stock makes debut on NYSE". www.cnbc.com. Retrieved 2019-04-10.{{cite web}}: CS1 maint: multiple names: authors list (link)
  7. 1 2 Chan, Rosalie (16 November 2018). "There's been an enterprise tech IPO rush in 2018. Here are the 15 key execs driving the new class of startups". Business Insider .
  8. ↑ "'Technology's democratising potential is most admirable'". Financial Express Mumbai. 18 December 2023 – via Magzter.
  9. ↑ Banon, Shay (12 March 2019). "On "Open" Distros, Open Source, and Building a Company". Elastic.
  10. ↑ White, Amy (10 March 2015). "Elastic Acquires Elasticsearch SaaS Provider Found". GlobeNewswire.
  11. ↑ Schuurman, Steven (10 March 2025). "Elastic: For – You Know, More Than Search". Elastic.
  12. 1 2 Kepes, Ben (2016-09-15). "In an attempt to disrupt Splunk, Elastic makes another acquisition". Network World. Retrieved 2023-08-04.
  13. ↑ "CEO Ash Kulkarni's email to Elastic employees". Elastic Blog. Retrieved 2022-12-02.
  14. ↑ DeFrancesco, Robert. "Elastic Is Carving Out A Niche In Generative AI With Vector Search". Forbes. Retrieved 2023-12-20.
  15. ↑ Gupta, Yuvraj (2017). Mastering Elastic Stack. Birmingham, UK: Packt Publishing. pp. 11–13. ISBN   978-1-78646-001-1.
  16. ↑ "Elastic Cloud: Hosted Elasticsearch, Hosted Search | Elastic". www.elastic.co. Retrieved 2019-04-10.
  17. ↑ Shukla, Pranav (2017). Learning Elastic Stack 6.0: A beginner's guide to distributed search. Birmingham, UK: PACKT. p. 315. ISBN   978-1-78728-186-8.
  18. ↑ Ward, Mark (2019-07-12). "Why search is no longer all about Google". www.bbc.com. Archived from the original on 2019-07-12. Retrieved 2019-10-01.
  19. ↑ "Elastic enters APM space with Opbeat acquisition". TechCrunch. Retrieved 2019-10-09.
  20. ↑ Yegulalp, Serdar (2017-05-05). "Elasticsearch stack wises up with machine learning". InfoWorld. Retrieved 2023-08-04.
  21. ↑ Ha, Anthony (2017-11-09). "Elastic acquires search startup Swiftype". TechCrunch. Retrieved 2023-08-04.
  22. ↑ "Elastic buys endpoint security firm Endgame for $234 million". ZDNET. Retrieved 2023-08-04.
  23. ↑ Kerner, Sean Michael (2021-08-23). "Elastic acquires build.security for security policy definition and enforcement". TechCrunch. Retrieved 2023-08-04.
  24. ↑ Ben-David, Ricky. "Open code software giant Elastic to buy Israeli startup, open Tel Aviv R&D site". www.timesofisrael.com. Retrieved 2023-08-04.
  25. ↑ Kobialka, Dan (2021-09-01). "Elastic Acquires Cmd; XDR Platform Gains Cloud Workload Runtime Security". MSSP Alert. Retrieved 2023-08-04.
  26. ↑ "Elastic to buy 'continuous profiling' startup Optimyze". ZDNET. Retrieved 2023-08-04.


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