<p><table class="image-container float_right" width="200"><tr><td><div class="image"><img src="http://static6.businessinsider.com/image/50ee39eaecad04af0c000005-400-300/dave dewalt.png" border="0" alt="Dave DeWalt FireEye CEO" /></div><p class="source"><a href="https://www.youtube.com/watch?v=VVBPaZygBa8">YouTube/FireEyeInc</a></p><p class="caption">Dave DeWalt, FireEye CEO</p></td></tr></table>If anyone has earned the right to be choosy about a new job, it's <keyword id="202074" type="PERSON" weightage="60" keywordseo="Dave-DeWalt">Dave DeWalt</keyword>.</p>
<p>Late last year, DeWalt signed on to be CEO of hot <keyword id="6355300" type="CITY" weightage="60" keywordseo="security">security</keyword> startup <keyword id="1560274" type="COMPANY" weightage="60" keywordseo="FireEye">FireEye</keyword>, which just raised $50 million in a deal that valued the company at $1.25 billion.</p>
<p>DeWalt is best known as the former CEO of McAfee, the antivirus software company. He sold it to Intel for $7.8 billion, adding to a string of wins that included leading Documentum through its $1.7 billion acquisition by EMC.</p>
<p>But it was a long, hard road at McAfee, DeWalt told Business Insider.</p>
<p>"You have to remember my McAfee entrance in late 2006-2007, [the company] was under 11-year restatement of its earnings," DeWalt said. "It had some executives that were indicted. We had a couple of large fines from the SEC [and the] Department of Justice. I had a delisting with the NYSE. Microsoft was announcing free antivirus software."</p>
<p>He had to rebuild the company from that. Then he sold it to Intel.</p>
<p>Rumor has it he was a contender to become Intel's next CEO following <a href="http://www.businessinsider.com/intel-ceo-paul-otellini-to-retire-in-may-2012-11">Paul Otellini's planned retirement in May</a>,</p>
<p>He wouldn't confirm that when we asked, telling us only that he turned down some 40 other CEO jobs before taking the role at FireEye, where he was already serving as chairman of the board.</p>
<p><span>Turning down the big-company offers was easy, he said. By the time he left Intel in 2011, DeWalt said, he was done with big corporate culture. </span>He says that big corporations don't do R&amp;D, they do what he calls "A&amp;I."</p>
<p>"Instead of doing research and development, we did acquisition and integration," DeWalt explained. "You use your balance sheet to buy the innovation and then you integrate. Whoever was best at acquiring and integrating was the leader as you got bigger and bigger. If you look at the appetites of the Ciscos and Microsofts and SAPs and Oracles, they almost have to buy every quarter to fuel their growth."</p>
<p>With FireEye, he's running a security startup with some bona fide amazing technology for stopping hackers.</p>
<p>That makes him feel like a cop beating the bad guys or a doctor curing illness, he told us.</p>
<p>"I'm personally attached to solving an important world problem, almost akin to solving cancer," DeWalt said.</p>
<p><strong>Don't miss:<a href="http://www.businessinsider.com/shape-security-raises-financing-2013-1"> Big Names Keep Throwing Money At Shape Security, A Stealthy Startup</a></strong></p>

This Startup CEO Turned Down 40 Job Offers

<p><div class="image-container float_right" style="width:400px"><div class="image"><img src="http://static2.businessinsider.com/image/50ee3fbbecad047e170000a7-523/john-mcafee-detained-guatemala-6.jpg?maxX=400&amp;maxY=300" border="0" alt="john mcafee detained guatemala" width="400" height="300" /></div><p class="source"><a href="http://images.newscred.com/248ba1908289ac141b6297e3d9bfa54a?width=700&amp;height=393 ">Reuters/Jorge Dan Lopez</a></p><p class="caption"><keyword id="1450154" type="UNKNOWN" weightage="60" keywordseo="John-McAfee">John McAfee</keyword></p></div>Like everyone else in the world, <keyword id="202074" type="PERSON" weightage="60" keywordseo="Dave-DeWalt">Dave DeWalt</keyword> was closely following the weird story of software pioneer John McAfee as it unfolded last month.</p>
<p>But for DeWalt, the sordid tale hit close to home—because he used to run the business McAfee built.</p>
<p>McAfee fled the Central American country of Belize when police sought to question him about the murder of his neighbor. His escape involved <a href="http://www.businessinsider.com/john-mcafee-guatemala-2012-12">sex, drugs, the faking of his own capture</a>, and McAfee's eventual deportation to the U.S.</p>
<p>DeWalt was the former CEO of McAfee, which he <a href="http://www.informationweek.com/security/management/lunch-with-dave/208803441">rebuilt after a stock-options scandal</a> and sold for $7.8 billion to Intel in 2010. DeWalt is now CEO of FireEye, an up-and-coming security startup.</p>
<p>He talked with Business Insider about his reaction to John McAfee's misadventures and told us:</p>
<p style="padding-left: 30px;">I was a little embarrassed for the company as well as disappointed in him. He was a great inventor and in a way I looked up to him—not necessarily what he was doing, but he built a $20 billion industry. The man who invented antivirus was John McAfee. It wasn't Peter Norton with Norton Utilities.</p>
<p style="padding-left: 30px;">"o when you see something later that undermines the character of an innovator and an entrepreneur like that, I'm a little disappointed and embarrassed by it.</p>
<p>DeWalt said he was particularly disappointed "to watch someone who had that much opportunity and impact in the world wind up the way it ended up. There are a lot of chapters not written yet, but they're not heading in the right direction."</p>
<p>DeWalt points out that McAfee has had nothing to do with his eponymous company for 20 years—yet McAfee's adventures wound up being a "crisis" for the brand because the regular Joe hearing the tale didn't always understand that.</p>

Ex-McAfee CEO: I'm 'Disappointed And Embarrassed' By Founder's Escapades

<ul><li><strong>The <keyword id="1817616" type="ORGANIZATION" weightage="60" keywordseo="SPAC">SPAC</keyword> frenzy continues in 2021, with over 130 blank check firms listing this year already.</strong></li><li><strong>Standing out has become much more challenging as the field becomes crowded.</strong></li><li><strong>Some SPACs are resorting to new methods to catch the eye of investors, according to a report in DealBook on Wednesday.</strong></li><li><strong><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a></strong></li></ul><p>SPACs are booming. Otherwise known as blank-check companies, SPACs have exploded since the start of 2020, with over 130 SPAC listings already in 2021. </p><p>SPACs list with the aim of identifying a merger partner to take public. This method is typically done in lieu of an <keyword id="6354763" type="UNKNOWN" weightage="60" keywordseo="ipo">IPO</keyword> or a direct listing, and has garnered support from Wall Street heavyweights as well as pop icons and professional athletes. </p><p>Given the frenzy around blank-check listings, the field is becoming increasingly crowded. According to <a href="https://www.nytimes.com/2021/02/10/business/dealbook/spac-wall-street-deals.html?campaign_id=4&amp;emc=edit_dk_20210303&amp;instance_id=27671&amp;nl=dealbook&amp;regi_id=61427258&amp;segment_id=52671&amp;te=1&amp;user_id=6ce77f080f3d64e6312881475ed3b6767f080f3d64e6312881475ed3b676">a report in DealBook</a> on Wednesday, some SPACs are resorting to new methods to catch they eye of investors. </p><p>Here are what four high-profile backers are doing to stand out. </p><p>1. NightDragon Acquisition Corp, a SPAC started by the former FireEye executive Dave DeWalt, opted for a structure meant to benefit all shareholders, rather than favor sponsors. </p><p>NightDragon links its "promote", which is the 20% stake that goes to the sponsor regardless of how the deal turns out, to the performance of the merger. NightDragon announced Monday <a href="https://www.businesswire.com/news/home/20210301006099/en/NightDragon-Acquisition-Corp.-Announces-Pricing-of-300-Million-Initial-Public-Offering">its plans to raise $300 million</a> at $10 each share this week.</p><p>2. <keyword id="10864268" type="UNKNOWN" weightage="60" keywordseo="pershing-square-tontine-holdings">Pershing Square Tontine Holdings</keyword>, a SPAC started by billionaire hedge fund manager <keyword id="1150206" type="PERSON" weightage="60" keywordseo="Bill-Ackman">Bill Ackman</keyword>, has also rewritten the rules. Ackman has said he will be "<a href="https://markets.businessinsider.com/news/stocks/bill-ackman-tontine-ipo-taking-no-compensation-holdings-begins-trading-2020-7-1029421391">taking no compensation</a>" in a bid to appeal to more investors. "We created the most investor-friendly SPAC in the world," <a href="https://markets.businessinsider.com/news/stocks/bill-ackman-tontine-ipo-taking-no-compensation-holdings-begins-trading-2020-7-1029421391">Ackman said</a>, adding that SPACs are an easier route to public <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> than a traditional IPO.</p><p>3. For Reinvent Technology Partners, a SPAC started by LinkedIn co-founder Reid Hoffman, founder shares will have up to a <a href="https://markets.businessinsider.com/news/stocks/joby-aviation-lands-spac-deal-to-bring-urban-air-mobility-company-public-1030120426">five-year lockup period</a> before they can be sold. "The economics are aligned much closer to venture capital," <a href="https://www.nytimes.com/2021/02/24/business/dealbook/fed-inflation-jay-powell.html?campaign_id=4&amp;emc=edit_dk_20210303&amp;instance_id=27671&amp;nl=dealbook&amp;regi_id=85242594&amp;segment_id=52671&amp;te=1&amp;user_id=b7ecb39412279947d1966b4c36d2a5e0b39412279947d1966b4c36d2a5e0">he told New York Times</a>.</p><p>4. Executive Network Partnering Corp., a SPAC for which Former House Speaker Paul Ryan serves as chairman, will give founders 1% of the company's size. That is about half of what most SPACs are charged. Investment banking advisory firm Evercore called this structure <a href="https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/evercore-looking-to-tweak-spac-model-with-caps-offerings-60852424?campaign_id=4&amp;emc=edit_dk_20210303&amp;instance_id=27671&amp;nl=dealbook&amp;regi_id=85242594&amp;segment_id=52671&amp;te=1&amp;user_id=b7ecb39412279947d1966b4c36d2a5e0b39412279947d1966b4c36d2a5e0">CAPS</a>, or "capital which aligns and partners with a sponsor."</p>

SPACs are trying to stand out in a sea of blank-check listings. Here's what 4 high-profile backers are doing to make their IPOs more attractive to investors.

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/563b90889dd7cc1a008c7781-711-533/obama-to-call-governor-jerry-brown-about-california-wildfires-2015-9.jpg" alt="A home burns as the Butte Fire rages through Mountain Ranch, California, September 11, 2015.  REUTERS/Noah Berger" data-mce-source="Thomson Reuters" data-mce-caption="A home burns as the Butte Fire rages through Mountain Ranch" /><p class="source"><span>Thomson Reuters</span></p></div><p></p></div></div>Cyber security firm FireEye shares are down almost 25% Thursday morning, after <a href="http://www.businessinsider.com/fireeye-q3-earnings">reporting lower-than-expected third quarter revenue</a> and guidance numbers.</p><p>Although the company didn't lose as much as expected, its third quarter revenue was below street estimates, while its guidance for the coming year was lowered as well.</p><p>FireEye CEO Dave DeWalt partly blamed the disappointing results on a lack of Chinese hackers.</p><p>"<span>I believe this change in customer buying patterns is at least particularly due in changes in the threat landscape in the wake of the global cyber security agreements we've seen with China that is making headlines since September," he said <a href="http://seekingalpha.com/article/3648316-fireeye-feye-david-dewalt-on-q3-2015-results-earnings-call-transcript?part=single">during the earnings call</a>.</span></p><p><span>DeWalt was probably referring to the agreement President Barack Obama and Chinese President Xi Jinping announced in September, when <a href="http://www.huffingtonpost.com/entry/us-china-cybersecurity_56057717e4b0dd8503074966">they announced</a>, "neither country's government would conduct or knowingly support cyber-enabled theft of intellectual property."</span></p><p><span>But it doesn't seem like investors are buying into it, as its stock dropped more than 15% since after hours trading yesterday. As of noon (EST) Thursday, FireEye shares are down more than 22%.</span></p><p><span>Analysts at FBR downgraded the stock from "outperform" to "market perform," writing:</span></p><p class="p1" style="padding-left: 30px;">With DeWalt blaming FireEye's weakness on non-company-specific issues, macro, weaker spending trends, Europe, and "head scratching" better China-U.S. relations, which is causing less threats, investors are taking his words and running for the exits in a panic. We continue to strongly believe that FireEye's issues are much more company-specific as DeWalt &amp; Co. are dealing with a plethora of execution/product headaches in the field, which are major overhangs on the FireEye story heading into 2016.</p><p><span>FireEye beat on earnings with a loss of $0.37 per share, versus expectations of a $0.45 per share, but third quarter revenue of </span><span>$165.6 million was below analyst estimates of <span>$167.1 million in revenue. But investors seemed most spooked by lowered r<span>evenue projections for the coming year - the new projections are $620 to $628 million, down from the previously predicted range of <span>$630 to $645 million.</span></span></span></span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/iphone-security-after-the-app-store-hack-2015-9">How to protect your iPhone from the biggest App Store hack ever</a></h3>        <div>            <div>    <script src="http://player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script>    <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="Z4ZzFudzoxFoIaidmRlusbiasSZJWfVY" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>    <script>    if (typeof RunFunctions === 'undefined') { var RunFunctions = []; }     RunFunctions.push(function()    {         var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', 'Z4ZzFudzoxFoIaidmRlusbiasSZJWfVY',{ autoplay: 'false' });     });    </script>    <noscript><div>Please enable Javascript to watch this video</div></noscript></div>        </div>        <script>(function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }()); </script>    </div>

FireEye's CEO partly blamed a slowdown in Chinese hacking for its poor results, and the stock is getting crushed

<p><div class="KonaFilter image-container float_right"><div class="image"><img src="https://static-ssl.businessinsider.com/image/531a26b86da811671cb2b4c0-831-623/fireeye-kevin-mandia.jpg?maxX=480" border="0" alt="FireEye Kevin Mandia" width="480" /><p class="source"><span>FireEye</span></p><p class="caption">FireEye COO Kevin Mandia</p></div><p></p></div>Shares of newly public company FireEye have been going so crazy lately that <a href="http://www.fireeye.com/news-events/press-releases/read/fireeye-announces-pricing-of-follow-on-offering">the company decided to sell off a bunch more</a> of them on Friday, in a secondary offering. And many of its other stakeholders joined in the selling party.</p>
<p>Among them was <span class="st">Kevin Mandia, a former U.S. Air Force officer who founded Mandiant, a security firm that FireEye bought in January for $1.05 billion. FireEye <a href="http://www.fireeye.com/news-events/press-releases/read/fireeye-announces-acquisition-of-mandiant">paid $106.5 million in cash and the rest in stock. </a></span></p>
<p><div class="KonaFilter image-container float_right" style="width:300px"><div class="image"><img src="https://static-ssl.businessinsider.com/image/531a267a69bedd664e90cbec-1200-924/ashar-aziz-fireeye-2.jpg" border="0" alt="Ashar Aziz FireEye" width="300" /><p class="source"><span>FireEye</span></p><p class="caption">FireEye founder Ashar Aziz</p></div><p></p></div>The CEO of FireEye, <span class="st"> David DeWalt, told Business Insider that this was like an IPO for <span class="st">Mandia</span>.</span></p>
<p><span class="st">"Today was a proud moment for Kevin Mandia. It was a chance for our Mandiant asset to go IPO," DeWalt said.</span></p>
<p><span class="st">DeWalt also shared a fun fact about FireEye and Mandiant: both companies were founded on the same day in 2004. So maybe their marriage was destiny?<br /></span></p>
<p>A total of 14 million shares were put on sale for the secondary offering, priced at $82, 5.6 million from the company and the rest from other stake holders, including Mandia. He sold 227,586 shares. At $82 per share, that's almost $18.7 million.</p>
<p>FireEye has only been a public company for about six months. <a href="http://www.businessinsider.com/fireeye-reaps-300m-in-ipo-2013-9">It held a successful IPO in September</a>, initially pricing shares at $20. In the past few weeks, shares zoomed over 370%, briefly hitting a high of $96, and at that price, <a href="http://www.businessinsider.com/fireeye-goes-nuts-creates-billionaire-2014-3">turning its founder Ashar Aziz into a billionaire.</a></p>
<p>At $82 a share, Aziz's net worth is down, but he's probably not crying about it. He cashed out of over 1 million shares today, too. (At $82, he nabbed $88.7 million.)</p>
<p>The success of both founders is "very rewarding for me and the directors," DeWalt says. DeWalt is best known as the former CEO of McAfee who sold the antivirus company to Intel for $7.8 billion. He also led Documentum to its $1.7 billion acquisition by EMC.</p>
<p><div class="KonaFilter image-container float_right" style="width:300px"><div class="image"><img src="http://static1.businessinsider.com/image/5200460c69beddcb6d00000d-566-424/dave-dewalt-fireeye.png" border="0" alt="attached image" width="300" /><p class="source"><span><a href="http://www.fireeye.com/lp/david-dewalt-joins-fireeye-board-chairman/">FireEye</a></span></p><p class="caption"> Dave DeWalt, CEO, FireEye</p></div><p></p></div>But this is the first taste of the big time for both Aziz and Mandia.</p>
<p>Aziz grew up in Pakistan and put himself through school at MIT before founding his company. Mandia grew up Pennsylvania and was an officer in the U.S. Air Force before founding his company.</p>
<p>After today's sale, Mandia currently owns 3,023,640 shares, or a 2.1% stake in FireEye. He also joined the company as COO.</p>

This Ex-Air Force Officer Struck It Rich With Security Company FireEye

<p><div class="image-container float_right" style="width:480px"><div class="image"><img src="http://static1.businessinsider.com/image/5200460c69beddcb6d00000d-566-424/dave-dewalt-fireeye.png?maxX=480" border="0" alt=" Dave DeWalt FireEye" width="480" /><p class="source"><a href="http://www.fireeye.com/lp/david-dewalt-joins-fireeye-board-chairman/">FireEye</a></p><p class="caption"> Dave DeWalt, CEO, <keyword id="1560274" type="COMPANY" weightage="60" keywordseo="FireEye">FireEye</keyword></p></div></div>One of the hottest companies in the <keyword id="6356323" type="UNKNOWN" weightage="100" keywordseo="Enterprise">enterprise</keyword> security market, FireEye, is gearing up for its IPO. It filed its <a href="$175%20million">paperwork with the SEC</a> on Friday.</p>
<p>FireEye plans to raise up to $175 million although it hasn't yet said how many shares it plans to offer, or the price range or the date.</p>
<p>In January, FireEye became an enterprise company to watch when it landed a $50 million round of financing and a <a href="http://www.businessinsider.com/fireeye-fundraising-2013-1">$1.25 billion valuation</a>. It had raised a total investment of $85.5 million.</p>
<p>At that time, <a href="http://www.businessinsider.com/fireeye-fundraising-2013-1">CEO Dave DeWalt told us</a> that the next stop was an IPO, probably later this year.</p>
<p>DeWalt had joined the company last November. He'd previously been the CEO of antivirus software maker McAfee, where he led the company through a turnaround to its acquisition by Intel for $7.6 billion.</p>
<p>DeWalt wasn't the only big name attracted to FireEye. Investors include Juniper Networks, Silicon Valley Bank and the the CIA's venture-capital arm, In-Q-Tel.</p>
<p>That's because the company's tech solves a really hard security problem. It can detect two types of hacker attacks that are very difficult to stop: "zero day" attacks and "advanced persistent threats."</p>
<p>Zero-day attacks are ones where hackers use bugs the software vendor hasn't yet fixed. The vendor has had "zero days" to come up with a fix.  <span>APTs are when hackers use all means possible to break into a particular network. </span></p>
<p>FireEye's security "appliance"— a combination of hardware and software — finds these attacks by running the suspicious code or opening suspicious emails in a protected area to see what they do. The process takes a fraction of a second.</p>
<p>The company has more than doubled revenue in the first half of 2013 to $61.6 million, from $29.7 million in the first half of 2012. It posted a net loss of $67.2 million for the first half, compared to a loss of $14.3 million in the same period of 2012.</p>

Meet The Next Hot Enterprise Tech IPO: FireEye Wants To Raise $175 million

<p><table class="image-container float_right" width="200"><tr><td><div class="image"><img src="http://static1.businessinsider.com/image/50edfa1f69bedde760000003-400-300/dave dewalt.jpg" border="0" alt="Dave DeWalt FireEye CEO" /></div><p class="source">Francis Specker Bloomberg/Getty Images</p><p class="caption">Dave DeWalt FireEye CEO</p></td></tr></table>People in the <keyword id="6356323" type="UNKNOWN" weightage="100" keywordseo="Enterprise">enterprise</keyword> tech world are closely watching <keyword id="6355300" type="CITY" weightage="60" keywordseo="security">security</keyword> startup <keyword id="1560274" type="COMPANY" weightage="60" keywordseo="FireEye">FireEye</keyword>. With reason: The company just landed a $50 million round of financing, new CEO Dave DeWalt told Business Insider.</p>
<p>The investment values FireEye at $1.25 billion, launching a company most consumers haven't heard of into the <a href="http://www.businessinsider.com/startups-with-billion-dollar-valuations-2012-4?op=1">realm of billion-dollar startups</a>.</p>
<p>The new money brings FireEye's total funding to $85.5 million. The company is on track for an IPO, maybe as soon as this year, DeWalt said.</p>
<p>Sequoia Capital, Norwest Venture Partners, Juniper Networks, Silicon Valley Bank, and others invested. This security company is so hot that even the CIA's venture-capital arm, <a href="http://www.iqt.org/portfolio/fireeye.html">In-Q-Tel</a>, has a stake.</p>
<p>And the reason is because FireEye solves two really hard security problems. It stops the kind of cyber attacks that companies couldn't stop before—so-called "zero day" attacks and "advanced persistent threats."</p>
<p>Zero-day attacks take advantage of software holes that the software vendor hasn't yet learned about—in other words, ones that they've had zero days to fix.</p>
<p><span>APTs are a series of attacks by organized hackers determined to get into a particular network. </span></p>
<p>FireEye's security "appliance"—a combination of hardware and software—finds these attacks by running the suspicious code or opening suspicious emails in a protected area to see what they do. The process takes a fraction of a second.</p>
<p>DeWalt joined the company last November. He'd previously been the CEO of antivirus software maker McAfee, where he led the company through a turnaround to its acquisition by Intel.</p>
<p>He was rumored to be in the running to succeed <a href="http://www.businessinsider.com/intel-ceo-paul-otellini-to-retire-in-may-2012-11">Paul Otellini</a> as Intel's CEO, and was approached with some 40 other CEO jobs since he left McAfee 18 months ago from "large public companies to smaller companies," he said. (DeWalt was <a href="http://venturebeat.com/2011/08/01/palo-alto-networks-ceo/">rumored to be in the running to head Palo Alto Networks</a>, which went public last summer.)</p>
<p>Although FireEye has annual revenues of about $100 million now, DeWalt argues that it's worth the $1.25 billion valuation because it's  on track to double its revenues this year. It now employs 500 people and will use the new funds to expand internationally.</p>
<p><strong>Don't miss: <a href="http://www.businessinsider.com/the-cisco-exec-that-signed-the-check-explains-why-he-spent-12-billion-on-a-100-million-company-2013-1" class="title">The Exec Who Signed The Check Explains Why Cisco Spent $1.2 Billion To Buy A $100 Million Company</a></strong></p>

Now Worth $1.25 Billion, FireEye Is The Next Hot Enterprise Startup To Watch

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/563a7b449dd7cc03308bc18a-2713-2035/housing crisis fire.jpg" alt="housing crisis fire" data-mce-source="Getty" /><p class="source"><span>Getty</span></p></div><p></p></div></div>Security company FireEye just released its third quarter revenue, and the results aren't good.</p><p>The company beat on earnings - it lost less money than expected - and was slightly ahead on revenue estimates. But shares are down almost 15% after hours as it missed on billings and lowered forecasts for the coming year.</p><p>There are the most important numbers:</p><p style="padding-left: 30px;"><strong>EPS:</strong> $0.37 loss per share vs. $0.45 loss per share estimated.</p><p style="padding-left: 30px;"><strong>Revenue:</strong> $165.6 million vs. $167.1 million estimated</p><p style="padding-left: 30px;"><strong>Billings: </strong>$210.6 million, far below its guidance of $225 million to $230 million. </p><p>It also lowered revenue projections for the coming year to $620 to $628 million, down from $630 to $645 million.</p><p>FireEye's software provides protection against malware attacks, and its main customers are governments and big enterprises. The company's CEO, <a href="http://www.businessinsider.com/dave-dewalt-fireye-40-job-offers-2013-1">Dave DeWalt</a>, is best known as the cofounder of McAfee, a big antivirus company that Intel bought for $7.8 billion in 2010. </p><p>The company had a successful $300 million IPO in September 2013, and its share price more than doubled by early February, but it's cooled off since then - its CFO resigned in July, and the stock is now more than 30% below its IPO price.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/donald-trump-morning-ritual-ego-boost-2015-11">Donald Trump's 'strange' morning habit tells you everything you need to know about him</a></h3>        <div>            <div>    <script src="http://player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script>    <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="00ZDlpeDrq4nMK9Rokom5THSdf3IXlfW" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>    <script>    if (typeof RunFunctions === 'undefined') { var RunFunctions = []; }     RunFunctions.push(function()    {         var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', '00ZDlpeDrq4nMK9Rokom5THSdf3IXlfW',{ autoplay: 'false' });     });    </script>    <noscript><div>Please enable Javascript to watch this video</div></noscript></div>        </div>        <script>(function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }()); </script>    </div>

Hot security company FireEye just lowered guidance and its stock is plummeting

<p><div class="image-container float_right" style="width:480px"><div class="image"><img src="http://static2.businessinsider.com/image/52058042eab8ea382f000000-618-463/proofpoint-ceo-gary-steele.png?maxX=480" border="0" alt="Proofpoint CEO Gary Steele" width="480" /><p class="source"><a href="http://www.youtube.com/watch?v=z2Oz-70iopU">YouTube/Proofpoint</a></p><p class="caption">Proofpoint CEO Gary Steele</p></div></div>As we previously reported, <a href="http://www.businessinsider.com/fireeye-files-for-175-million-ipo-2013-8">FireEye is the next hot security startup</a> slated to go public.</p>
<p>But Proofpoint has no intention of letting <keyword id="1560274" type="COMPANY" weightage="60" keywordseo="FireEye">FireEye</keyword> upend the $11 billion email security products market. Proofpoint, a company best known for its anti-spam products, acquired Armorize Technologies on Friday for $25 million to go head-to-head with FireEye.</p>
<p>FireEye makes a product that solves a really hard problem. It protects against something called "advanced persistent threats" <span>when hackers use all means possible to break into a particular network. It offers an appliance, a device that combines hardware and software, to run suspicious code or open emails in a protected area to see what they do. The process takes a fraction of a second.</span></p>
<p><span>FireEye landed in the spotlight when it managed to hire former McAfee CEO Dave DeWalt. In January, it nabbed a $50 million investment ($85.5 million to date) <a href="http://www.businessinsider.com/fireeye-fundraising-2013-1">and a $1.25 valuation.</a> It hopes to raise $175 million in its IPO.</span></p>
<p><span>Proofpoint was one of the<a href="http://www.businessinsider.com/enterprise-ipos-2012-12"> hot IPOs of 2012</a> and it wants to take on FireEye's turf. Instead offering an appliance, the Armorize tech works in the cloud, Proofpoint CEO Gary Steele told us. That's going to make its tech powerful and affordable, he said.</span></p>
<p>As for how well the Armorize investors did, the company never announced how much it raised. But one seed investor was <a href="http://www.asi.ee/portfolio">Ambient Sound Investments</a>, the VC firm created by the founders of Skype.</p>

Proofpoint Wants To Knock Out Hot Security Startup FireEye

<h1>A</h1>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#1-brian-acton-jan-koum-100" target="_blank">Brian Acton, Jan Koum</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#58-makinde-adeagbo-43" target="_blank">Makinde Adeagbo </a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#47-angela-ahrendts-denise-young-smith-54" target="_blank">Angela Ahrendts, Denise Young Smith</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#31-brian-armstrong-70" target="_blank">Brian Armstrong</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#91-alexander-asseily-hosain-rahman-matt-hunter-10" target="_blank">Alexander Asseily, Hosain Rahman, Matt Hunter</a></p>
<h1>B</h1>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#4-noam-bardin-97" target="_blank">Noam Bardin</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#44-marc-benioff-57" target="_blank">Marc Benioff</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#65-james-beshara-36" target="_blank">James Beshara</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#14-sergey-brin-astro-teller-87" target="_blank">Sergey Brin, Astro Teller</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#87-rose-broome-zac-witte-14">Rose Broome, Zac Witte</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#19-nathan-blecharczyk-brian-chesky-joe-gebbia-82" target="_blank">Nathan Blecharczyk, Brian Chesky, Joe Gebbia</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#76-david-mark-byttow-chrys-bader-25" target="_blank">David Mark Byttow, Chrys Bader</a></p>
<h1>C</h1>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#28-john-collison-patrick-collison-73" target="_blank">John Collison, Patrick Collison</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#57-ron-conway-44" target="_blank">Ron Conway</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#8-tim-cook-jony-ive-craig-federighi-93" target="_blank">Tim Cook, Jony Ive, Craig Federighi</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#9-dick-costolo-adam-bain-ali-rowghani-kevin-weil-94" target="_blank">Dick Costolo, Adam Bain, Ali Rowghani, Kevin Weil</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#73-chris-cox-28" target="_blank">Chris Cox</a></p>
<h1>D</h1>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#30-nick-daloisio-71" target="_blank">Nick D'Aloisio</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#77-frederic-della-faille-melvyn-hills-24">Frederic della Faille, Melvyn Hills </a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#96-mike-del-ponte-5" target="_blank">Mike Del Ponte</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#20-dave-dewalt-ashar-aziz-81" target="_blank">Dave DeWalt, Ashar Aziz</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#2-jack-dorsey-99">Jack Dorsey</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#86-david-drummond-15" target="_blank">David Drummond</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#37-greg-duffy-aamir-virani-64" target="_blank">Greg Duffy, Aamir Virani </a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#27-lucas-duplan-74" target="_blank">Lucas Duplan </a></p>
<h1>F</h1>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#42-peter-fenton-yuri-milner-59">Peter Fenton, Yuri Milner</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#22-joe-fernandez-79" target="_blank">Joe Fernandez</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#95-taro-fukuyama-ilya-tokhner-6" target="_blank">Taro Fukuyama, Ilya Tokhner</a></p>
<h1>G</h1>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#94-grace-garey-netta-marshall-chase-adam-jesse-cook-7" target="_blank">Grace Garey, Netta Marshall, Chase Adam, Jesse Cook</a> </p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#6-jim-goetz-95" target="_parent">Jim Goetz</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#32-paul-graham-sam-altman-69" target="_blank">Paul Graham, Sam Altman</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#70-chris-griffin-31" target="_blank">Chris Griffin</a><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#31-paul-graham-70" target="_blank"></a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#80-diane-greene-21" target="_blank">Diane Greene</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#23-bill-gurley-78" target="_blank">Bill Gurley</a></p>
<h1>H</h1>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#26-reed-hastings-75" target="_blank">Reed Hastings</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#72-kevin-and-julia-hartz-29" target="_blank">Kevin and Julia Hartz</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#97-heather-hiles-4" target="_blank">Heather Hiles </a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#49-ben-horowitz-marc-andreessen-jeff-jordan-chris-dixon-52">Ben Horowitz, Marc Andreessen, Jeff Jordan, Chris Dixon </a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#17-drew-houston-arash-ferdowsi-ilya-fushman-84" target="_blank">Drew Houston, Arash Ferdowsi, Ilya Fushman</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#88-charles-hudson-13" target="_blank">Charles Hudson</a> </p>
<h1>J</h1>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#98-naveen-jain-dr-reid-rubsamen-3" target="_blank">Naveen Jain, Dr. Reid Rubsamen<br /></a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#60-jason-johnson-yves-behar-41" target="_blank">Jason Johnson, Yves Behar</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#100-mike-judge-alec-berg-1" target="_blank">Mike Judge, Alec Berg</a> </p>
<h1>K</h1>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#11-travis-kalanick-90" target="_blank">Travis Kalanick</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#24-alexander-karp-77" target="_blank">Alexander Karp</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#71-simon-khalaf-30" target="_blank">Simon Khalaf</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#50-edwin-khodabakchian-cyril-moutran-51" target="_blank">Edwin Khodabakchian, Cyril Moutran</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#69-brian-krzanich-32" target="_blank">Brian Krzanich</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#36-ray-kurzweil-65" target="_blank">Ray Kurzweil</a></p>
<h1>L</h1>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#83-david-lawee-18" target="_blank">David Lawee</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#51-tom-x-lee-50" target="_blank">Tom X. Lee</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#66-jessica-lessin-35" target="_blank">Jessica Lessin</a> </p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#85-max-levchin-16" target="_blank">Max Levchin</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#18-aaron-levie-83" target="_blank">Aaron Levie</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#46-phil-libin-55" target="_blank">Phil Libin </a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#33-jeremy-liew-68" target="_blank">Jeremy Liew</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#82-rob-lloyd-19" target="_blank">Rob Lloyd</a></p>
<h1>M</h1>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#48-doug-mack-ali-pincus-susan-feldman-53" target="_blank">Doug Mack, Ali Pincus, Susan Feldman</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#90-paul-maritz-11" target="_blank">Paul Maritz</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#35-don-mattrick-66" target="_blank">Don Mattrick </a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#16-marissa-mayer-85" target="_blank">Marissa Mayer</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#53-brian-mcandrews-48" target="_blank">Brian McAndrews</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#81-dave-mcclure-20" target="_blank">Dave McClure</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#56-mike-mccue-45" target="_blank">Mike McCue </a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#43-eric-migicovsky-58" target="_blank">Eric Migicovsky</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#63-ann-miura-ko-38" target="_blank">Ann Miura-Ko</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#67-brit-morin-34" target="_blank">Brit Morin</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#5-elon-musk-96" target="_blank">Elon Musk</a></p>
<h1>P</h1>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#15-larry-page-86" target="_blank">Larry Page</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#34-james-park-67" target="_blank">James Park</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#75-sundar-pichai-26" target="_blank">Sundar Pichai</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#89-ramona-pierson-12" target="_blank">Ramona Pierson</a> </p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#74-tom-preston-werner-chris-wanstrath-pj-hyett-27" target="_blank">Tom Preston-Werner, Chris Wanstrath, PJ Hyett</a></p>
<h1>R</h1>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#99-aarthi-ramamurthy-2" target="_blank">Aarthi Ramamurthy</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#3-matt-rogers-tony-fadell-98" target="_blank">Matt Rogers, Tony Fadell</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#59-dan-rose-42" target="_blank">Dan Rose </a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#40-andy-rubin-61" target="_blank">Andy Rubin</a></p>
<h1>S</h1>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#62-caesar-sengupta-39" target="_blank">Caesar Sengupta</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#39-sam-shank-62" target="_blank">Sam Shank </a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#41-mg-siegler-60" target="_blank">MG Siegler</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#52-ben-silbermann-evan-sharp-49" target="_blank">Ben Silbermann, Evan Sharp</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#78-balaji-srinivasan-23" target="_blank">Balaji Srinivasan</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#12-biz-stone-ben-finkel-89" target="_blank">Biz Stone, Ben Finkel <br /></a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#92-wayne-sutton-9" target="_blank">Wayne Sutton</a> </p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#54-kevin-systrom-mike-krieger-47" target="_blank">Kevin Systrom, Mike Krieger</a> </p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#61-kara-swisher-walt-mossberg-40" target="_blank">Kara Swisher, Walt Mossberg </a></p>
<h1>T</h1>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#38-bret-taylor-kevin-gibbs-63" target="_blank">Bret Taylor, Kevin Gibbs</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#93-erin-teague-8" target="_blank">Erin Teague</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#68-peter-thiel-33" target="_blank">Peter Thiel</a></p>
<h1>U</h1>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#21-gentry-underwood-scott-cannon-80" target="_blank">Gentry Underwood, Scott Cannon </a></p>
<h1>W</h1>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#45-hunter-walk-satya-patel-56" target="_blank">Hunter Walk, Satya Patel</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#79-tristan-walker-22" target="_blank">Tristan Walker</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#84-jeff-weiner-17" target="_blank">Jeff Weiner</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#64-meg-whitman-37" target="_blank">Meg Whitman</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#9-ev-williams-92" target="_blank">Ev Williams </a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#55-anne-wojcicki-46" target="_blank">Anne Wojcicki</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#25-susan-wojcicki-76" target="_blank">Susan Wojcicki</a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#13-nick-woodman-88" target="_blank">Nick Woodman </a></p>
<h1>Z</h1>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#29-john-zimmer-logan-green-72" target="_blank">John Zimmer, Logan Green </a></p>
<p><a href="http://www.businessinsider.com/the-silicon-valley-100-2014-2014-1#10-mark-zuckerberg-sheryl-sandberg-david-ebersman-91" target="_blank">Mark Zuckerberg, Sheryl Sandberg, David Ebersman</a></p>

Silicon Valley 100 2014: A-Z

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/552e89416da8116b08411a4d-1200-924/microsoft-ceo-satya-nadella-57.jpg" alt="Microsoft CEO Satya Nadella" border="0"><p class="source"><span><a href="http://news.microsoft.com/?attachment_id=52503">Microsoft</a></span></p><p class="caption">Microsoft CEO Satya Nadella</p></img></div><p></p></div></div>For many years, Microsoft has operated a website called TechNet, where IT professionals can download technical materials on Microsoft's products and get help troubleshooting problems.</p><p>On Wednesday, security company FireEye revealed that<a href="https://www.fireeye.com/blog/threat-research/2015/05/hiding_in_plain_sigh.html"> hackers had infiltrated TechNet in an ingenious way</a>, to operate one of their illegal networks, called a botnet.</p><p>These hackers did not break into TechNet's security. Instead they setup ordinary user profiles on TechNet, then stuffed those profiles with malware. They went to forum pages and dropped malware there, too. FireEye called it <a href="https://www.fireeye.com/blog/threat-research/2015/05/hiding_in_plain_sigh.html">"hiding in plain sight."</a></p><p>This wasn't so much a tactic to hack IT professionals who visited TechNet, as it was to hide their nefarious activities from the botnet hunters trying to shut them down, FireEye reported.</p><p>It allowed the hackers to secretly run their botnet, FireEye says, because a victim's anti-virus software thought the illicit traffic was coming from a safe Microsoft site.</p><p><div class="KonaFilter image-container click-to-enlarge"><div class="image on-image"><a title_source="FireEye" title_caption="How hackers used Microsoft TechNet to run their botnet" class="zoomin" href="https://static-ssl.businessinsider.com/image/5556022169beddee4db7c49a-960/fireeye-technet-graphic-1.jpg"><span class="sprites click-to-enlarge-icon" title="Click to enlarge"></span><img src="https://static-ssl.businessinsider.com/image/5556022169beddee4db7c49a-1200-600/fireeye-technet-graphic-1.jpg" alt="FireEye TechNet Graphic" border="0" width="800" /></a><p class="source"><span><a href="https://www2.fireeye.com/WEB-2015RPTAPT17.html">FireEye</a></span></p><p class="caption">How hackers used Microsoft TechNet to run their botnet</p></div><p></p></div></p><p>It also made it harder for network security professionals to find the actual botnet servers.</p><p>And herein lies the embarrassment for Microsoft: Microsoft famously operates a botnet hunting group, <a href="http://news.microsoft.com/presskits/dcu/">The Digital Crime unit</a>, that has worked with the FBI and officials in 80 countries, to take down some of the largest, most dangerous botnets in the world.</p><p>This was an in-your-face to Microsoft from the hackers.</p><p>FireEye and Microsoft found a way to turn the tables. They injected tracking code into the hacker's malware to trace the botnet servers.</p><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/50ee39eaecad04af0c000005-400-300/dave dewalt.png" alt="Dave DeWalt FireEye CEO" border="0"><p class="source"><span><a href="https://www.youtube.com/watch?v=VVBPaZygBa8">YouTube/FireEyeInc</a></span></p><p class="caption">Dave DeWalt FireEye CEO</p></img></div><p></p></div></div>FireEye identified them as the Chinese hackers APT17, also nicknamed Deputy Dog, who have attacked targets like the U.S. government, international law firms and other big tech companies.</p><p>FireEye says there's a happy ending. It has updated its security software to stop this technique and has shared <a href="https://github.com/fireeye/iocs.">software on Github</a> that lets web developers identify this kind of attack, too. Microsoft has also updated its security software.</p><p>There's another wrinkle to all of this. FireEye's technology helps detect what's known as "advanced persistent threats" (APT) which means that hackers are deliberately targeting one organization which is very hard to stop. (That's in contrast to hackers randomly trolling the internet looking to infect computers.)</p><p>Last month, Microsoft took a big step as a competitor in FireEye's eyes by announcing its own APT security tool. It will initially work only with <a href="http://news.microsoft.com/speeches/satya-nadella-ignite-2015/">Microsoft's ActiveDirectory technology</a>, the tool that IT pros use to set up employee accounts with passwords and such.</p><p>FireEye politely waited until after Microsoft CEO announced this new product before it released <a href="https://www.fireeye.com/blog/threat-research/2015/05/hiding_in_plain_sigh.html">a blog post</a> and <a href="https://www2.fireeye.com/WEB-2015RPTAPT17.html">white paper</a> about the hackers on TechNet.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/what-happens-after-black-widow-spider-bite-poison-2015-4">Here's what happens when you get bitten by a black widow</a></h3>        <div>            <div>    <script src="http://player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script>    <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="5wdGFndDqN2zqp8TnWPghhDHfhDWYD_r" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>    <script>    if (typeof RunFunctions === 'undefined') { var RunFunctions = []; }     RunFunctions.push(function()    {         var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', '5wdGFndDqN2zqp8TnWPghhDHfhDWYD_r',{ autoplay: 'false' });     });    </script>    <noscript><div>Please enable Javascript to watch this video</div></noscript></div>        </div>        <script>(function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }()); </script>    </div>

Hackers found an ingenious way to embarrass Microsoft

<p><div class="image-container float_right" style="width:400px"><div class="image"><img src="http://static4.businessinsider.com/image/510abb98ecad04df45000000-590/chinese-hacker.jpg?maxX=400&amp;maxY=300" border="0" alt="chinese hacker" width="400" height="300" /></div><p class="source">AP</p></div>For the past four months the <keyword id="53556" type="CITY" weightage="60" keywordseo="New-York-Times">New York Times</keyword> has been under attack by Chinese <keyword id="11094" type="UNKNOWN" weightage="60" keywordseo="Hackers">hackers</keyword>, the <a href="http://www.nytimes.com/2013/01/31/technology/chinese-hackers-infiltrate-new-york-times-computers.html?_r=3&amp;pagewanted=all&amp;">newspaper says.</a></p>
<p>The hackers were able to "infiltrate its computer systems" and get passwords from reporters and other employees. The Times says it hired an outside firm to study the hacks and block them for good. It also says that no customer information was leaked by these attacks.</p>
<p>The Times thinks the motivation was an investigation into the relatives of China's prime minister, Wen Jiabao, and how their business dealings turned them into billionaires.</p>
<p>The hackers were tricky about hiding their tracks. They used a technique called "spearphishing" where they sent emails laced with malicious links. Once opened, malware was secretly downloaded onto the recipients computers. The email was routed through U.S. universities to disguise their origin. These were the same U.S. universities used to disguise Chinese hacker attacks on the U.S. military, the Times says.</p>
<p>Chinese officials deny that the government or military were involved in the attacks.</p>
<p>These type of super targeted attacks, where hackers work to break into a specific company, are particularly hard to defend against. The industry calls them "advanced persistent threats." But there are some U.S. <keyword id="6355300" type="CITY" weightage="60" keywordseo="security">security</keyword> startups with technology that can thwart them<a href="http://www.businessinsider.com/fireeye-fundraising-2013-1"> including FireEye,</a> which earlier this month landed a $50 million round of financing and a big name new CEO, Dave DeWalt.</p>
<p><strong>Don't miss: <a href="http://www.businessinsider.com/15-most-important-security-startups-2013-1">The 15 Most Important Security Startups Of 2013</a></strong></p>

Chinese Hackers Have Been Attacking The New York Times For Months

<p><div class="KonaFilter image-container float_right"><div class="image on-image"><img src="http://static2.businessinsider.com/image/523c69e0ecad04007ccb58c2-1019-764/fireeye-ipo-1.jpg?maxX=480" border="0" alt="FireEye IPO" width="480" /><p class="source"><a href="https://twitter.com/NASDAQOMX/status/381048232886796288/photo/1">NASDAQ</a></p><p class="caption"><keyword id="1560274" type="COMPANY" weightage="60" keywordseo="FireEye">FireEye</keyword> IPO</p></div><p></p></div>Hot <keyword id="387635" type="UNKNOWN" weightage="60" keywordseo="computer-security">computer security</keyword> startup FireEye entered the public market on Friday with an IPO that raised over <span id="mn_Global"><span id="MNGiSection">$300 million</span></span>.</p>
<p>At the last minute, it raised its opening price more than $3, from a range of $15-$17 to $20. This let it raise far more than the $175 million it had hoped for in its original prospectus. Its open-day valuation is a healthy $2.3 billion, <a href="http://dealbook.nytimes.com/2013/09/19/fireeye-prices-i-p-o-at-20-beating-heightened-expectations/">reports the New York Times Michael De La Merced. </a></p>
<p>The company became a startup to watch after it nabbed a bigwig as its CEO, Dave DeWalt, former CEO of antivirus software maker McAfee. It raised $85.5 million in investment from Sequoia Capital, Norwest Venture Partners, Juniper Networks, Silicon Valley Bank, the CIA's venture-capital arm, In-Q-Tel, and others.</p>
<p>FireEye's tech solves a really hard <keyword id="6355300" type="CITY" weightage="60" keywordseo="security">security</keyword> problem. It can detect two types of hacker attacks that are very difficult to stop: "zero day" attacks and "advanced persistent threats."Zero-day attacks" are where hackers use bugs the software vendor hasn't yet fixed. The vendor has had "zero days" to come up with a fix. APTs are when hackers use all means possible to break into a particular network.</p>
<p>FireEye's security "appliance"- a combination of hardware and software - finds these attacks by running the suspicious code or opening suspicious emails in a protected area to see what they do. The process takes a fraction of a second.</p>
<p>The company has more than doubled revenue in the first half of 2013 to $61.6 million, from $29.7 million in the first half of 2012. It posted a net loss of $67.2 million for the first half, compared to a loss of $14.3 million in the same period of 2012.</p>

You Can Now Own A Piece Of Hot Computer Security Company FireEye

<p><div class="image-container float_right"><div class="image"><img src="http://static2.businessinsider.com/image/523c69e0ecad04007ccb58c2-1019-764/fireeye-ipo-1.jpg?maxX=480" border="0" alt="FireEye IPO" width="480" /><p class="source on-image"><a href="https://twitter.com/NASDAQOMX/status/381048232886796288/photo/1">NASDAQ</a></p><p class="caption"><keyword id="1560274" type="COMPANY" weightage="60" keywordseo="FireEye">FireEye</keyword> IPO</p></div></div>Hot <keyword id="387635" type="UNKNOWN" weightage="60" keywordseo="computer-security">computer security</keyword> startup FireEye entered the public market on Friday with an IPO that raised over <span id="mn_Global"><span id="MNGiSection">$300 million</span></span>.</p>
<p>At the last minute, it raised its opening price more than $3, from a range of $15-$17 to $20. This let it raise far more than the $175 million it had hoped for in its original prospectus. Its open-day valuation is a healthy $2.3 billion, <a href="http://dealbook.nytimes.com/2013/09/19/fireeye-prices-i-p-o-at-20-beating-heightened-expectations/">reports the New York Times Michael De La Merced. </a></p>
<p>The company became a startup to watch after it nabbed a bigwig as its CEO, Dave DeWalt, former CEO of antivirus software maker McAfee. It raised $85.5 million in investment from Sequoia Capital, Norwest Venture Partners, Juniper Networks, Silicon Valley Bank, the CIA's venture-capital arm, In-Q-Tel, and others.</p>
<p>FireEye's tech solves a really hard <keyword id="6355300" type="CITY" weightage="60" keywordseo="security">security</keyword> problem. It can detect two types of hacker attacks that are very difficult to stop: "zero day" attacks and "advanced persistent threats."Zero-day attacks" are where hackers use bugs the software vendor hasn't yet fixed. The vendor has had "zero days" to come up with a fix. APTs are when hackers use all means possible to break into a particular network.</p>
<p>FireEye's security "appliance"- a combination of hardware and software - finds these attacks by running the suspicious code or opening suspicious emails in a protected area to see what they do. The process takes a fraction of a second.</p>
<p>The company has more than doubled revenue in the first half of 2013 to $61.6 million, from $29.7 million in the first half of 2012. It posted a net loss of $67.2 million for the first half, compared to a loss of $14.3 million in the same period of 2012.</p>

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