An increase in cyber-attacks over the past several years provided a boon to many network security providers, and FireEye was one of the fastest-growing vendors in the space. However, the high price of their solutions limited their customer base to a small number of enterprise accounts with deep pockets, putting a cap on their growth potential. Vendors in the space continued to advance their technology and product offerings and soon customers had many available options at different price points. Our channel checks indicated that while FireEye continued to perform well with marquee customers, the underlying health of their business was being eroded by competitors such as Palo Alto, Fortinet, and Check Point. FireEye was losing out on smaller customers that they would eventually need for sustainable growth. FireEye created an effective, best-of-breed, threat intelligence platform and at one point was an industry darling, but a good product can only go so far when there is no one left to sell it to.
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Data sourced from quarterly Verbatim datasets from 2014-2016