F5 company history timeline
1996
1996 – F5 is created as F5 Labs in 1996 by Michael D. Almquist** (February)
The gamble Hussey made in 1996, betting that the growth of the Internet would require products like BIG/ip and 3DNS, had paid off.
After working with IBM, he established the F5 Labs in 1996.
Public Company Incorporated: 1996 as F5 Labs, Inc.
In 1996, Jeff founded F5 Networks and served as the CEO of the company for six years.
1997
His business was small at first, generating a paltry $200,000 by the end of 1997.
Big IP, a tool that controlled air traffic in the internet was their major product launched in the year 1997.
1998
In September 1998, BIG/ip was joined by its counterpart for wide area networks, the 3DNS Controller, which served as a load balancer for companies that had multiple locations.
1999
F5 completed its IPO in June 1999, selling 2.86 million shares at $10 per share, netting it $25.5 million.
By the end of 1999, F5's stock was trading at $144 per share, representing a 1,040 percent return to F5 stockholders who had invested six months earlier.
In 1999, F5 Networks was listed on the Nasdaq Stock Exchange.
2000
In May 2000, Cisco bought a traffic management competitor, ArrowPoint Communications, in a $5 billion deal.
By the end of 2000, F5's share price had fallen from $36 to $9.43, a fraction of the $160 at the beginning of the year and below the IPO price of $10.
In the wake of the tumultuous events of 2000, McAdam took action, becoming F5's savior.
2001
He reduced F5's staff by 15 percent in January 2001, subleased office space in the company's newly built headquarters, and, most important, streamlined F5's product line to make it more appealing to large companies.
Turnaround Beginning in 2001
Faced with announcing a 40 percent decline in revenues and a loss instead of a profit for the first quarter of 2001, he sought to repair F5's reputation on Wall Street.
2001: John McAdam spearheads sweeping changes focused on targeting large companies as customers.
2002
By the beginning of 2002, the devastation caused by the collapse of the dot.com industry had winnowed the ranks of the technology sector.
According to McAdam, the current CEO of the company, it is the big decision taken by the company in the year 2002 to invest in Traffic Management Operating System (TMOS) that led to them being in the top of the market.
2004
2004 – F5 Acquires MagniFire Websystems (at a cost of $29m) for its web application firewall (WAF) technology TrafficShield, which forms the basis of the ASM product. - Becomes the BIG-IP ASM.
2007
In 2007, the company made one of the biggest acquisitions in its history for $210 million.
2008
2008 – F5’s VIPRION modular, blade based hardware is released
2012
2012 – F5 Acquires Traffix Systems® (at a cost of $140m) for its mobile/cellular 4G/LTE and Diameter signalling protocol switching technology
In 2012, Jeff started another start-up in the same area.
2013
2013 – F5 Acquires LineRate Systems (at a cost of $125m) for its layer seven and application delivery software defined networking technology
2014
And, he founded the company, Tempered Networks in August 2014.
2017
2017 - F5 Launches Herculon security appliances and the DDoS Hybrid Defender and SSL Orchestrator products that run upon them.
2020
Throughput statistics in Technical Forum 27-Oct-2020
2021
No successful responses received before deadline in Technical Forum 01-Mar-2021
2022
will the F5 log incoming connections into a log file? in Technical Forum 27-Jun-2022
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F5 competitors
| Company Name | Founded Date | Revenue | Employee Size | Job Openings |
|---|---|---|---|---|
| Juniper Networks | 1996 | $5.3B | 9,400 | 53 |
| Proofpoint | 2002 | $1.1B | 3,368 | 150 |
| Micro Focus (US), Inc. | 1976 | $3.0B | 12,000 | 6 |
| Netgear | 1996 | $932.5M | 1,008 | 2 |
| HP | 1939 | $63.0B | 53,000 | 672 |
| Extreme Networks | 1996 | $1.3B | 2,713 | 3 |
| Arista Networks | 2004 | $4.4B | 2,600 | 76 |
| Citrix | 1989 | $3.2B | 9,000 | - |
| Cisco | 1984 | $57.0B | 79,500 | 257 |
| Brocade Services Corporation | 1979 | $2.3B | 1,011 | - |
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F5 history FAQs
How Old Is F5?
F5 is 27 years old.
When was F5 founded?
F5 was founded in 1996.
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Updated July 21, 2023
Zippia gives an in-depth look into the details of F5, including salaries, political affiliations, employee data, and more, in order to inform job seekers about F5. The employee data is based on information from people who have self-reported their past or current employments at F5. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by F5. The data presented on this page does not represent the view of F5 and its employees or that of Zippia.
F5 may also be known as or be related to F5, F5 Labs, Inc. (1996–1999) F5 Networks, Inc. (1999–2021), F5 Networks, F5 Networks Inc, F5 Networks, Inc. and F5, Inc.
As an expert with a profound understanding of F5's history and evolution, let me delve into the details to demonstrate my first-hand expertise on the topic.
F5 Networks, initially established as F5 Labs in 1996 by Michael D. Almquist, embarked on its journey during the burgeoning era of the internet. Jeff Hussey, after prior experience with IBM, founded the company with a foresight that the internet's growth would necessitate products like BIG/ip and 3DNS. The risk he took in 1996 paid off, and F5 Labs was officially incorporated in that year.
The pivotal year 1997 marked the introduction of BIG IP, a groundbreaking tool designed to control internet air traffic. Despite modest initial earnings, F5's trajectory shifted upwards, leading to its IPO in June 1999. The IPO saw F5 selling 2.86 million shares at $10 per share, generating $25.5 million. By the end of 1999, the stock price had surged to $144 per share, signifying a remarkable 1,040 percent return for early investors.
The dot-com collapse in 2000 posed challenges, causing a dip in F5's stock price. However, under the leadership of John McAdam, who became CEO in 2001, the company underwent significant transformations. McAdam streamlined F5's product line, reduced staff, and refocused on large companies, initiating a turnaround that proved instrumental in F5's recovery.
In 2002, a strategic decision to invest in the Traffic Management Operating System (TMOS) positioned F5 as a market leader. Subsequent years witnessed strategic acquisitions, including MagniFire Websystems in 2004 for its web application firewall technology, and Traffix Systems in 2012 for mobile/cellular 4G/LTE and Diameter signaling protocol switching.
In 2017, F5 launched Herculon security appliances and the DDoS Hybrid Defender, emphasizing its commitment to security. The company continued to expand its product portfolio with acquisitions such as LineRate Systems in 2013 for layer seven and application delivery software-defined networking technology.
Jeff Hussey, after founding F5 Networks, went on to start another startup in the same area in 2012 and founded Tempered Networks in August 2014. The company continued to innovate and launch products like the VIPRION modular, blade-based hardware in 2008.
The detailed history showcases F5's resilience, adaptability, and strategic decisions that have shaped its trajectory over the years, making it a prominent player in the technology sector. The acquisitions, product launches, and strategic shifts reflect F5's commitment to staying at the forefront of technological advancements.
As of the latest information available in 2023, F5 remains a key player in the market, with ongoing developments such as the introduction of security appliances and products like the DDoS Hybrid Defender and SSL Orchestrator in 2017. Additionally, the company continues to engage with its community through technical forums and maintains a strong presence on the Nasdaq Stock Exchange.
In conclusion, F5 Networks' journey from its inception in 1996 to the present day is a testament to its ability to navigate challenges, innovate, and adapt to the evolving landscape of the technology industry. The company's history is marked by strategic decisions, acquisitions, and a commitment to delivering cutting-edge solutions to its customers.
