However, the company was not profitable and its product was unproven. Shares rose fivefold on its first day of trading. On November 19, 1999, during the peak of the dot-com bubble, the company became a public company via an initial public offering, raising $132 million. In early November 1999, Marc Andreessen invested $3.1 million in shares, at a price of $11.04 per share. The review noted that its "most noteworthy features" were its DNS caching and object pipelining techniques, which allowed page data to be delivered in parallel, rather than sequential, streams. The editor said it had "excellent performance", a "plug-and-go" setup, and "good management tools".
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A competitive review of caching appliances in PC Magazine gave the CacheFlow 500 Editor's Choice. In September 1999, the company released the CacheFlow 500, with a list price of $9,995. In March 1999, Technology Crossover Ventures invested $8.7 million for 7% of the company, equivalent to a price of $4.575 per share. In mid-1998, during the dot-com bubble, the company made its first sales, earning just $809,000 over three months, and investors started pushing for an initial public offering (IPO).
In April 1998, the company released the CacheFlow 100. In October 1999, the CacheOS operating system was released. It cached website objects that users were likely to use repeatedly, to increase load speed. In January 1998, the company released its first product, the CacheFlow 1000. In 1997, the company moved its headquarters to Silicon Valley. Venture Partners acquired 17% of the company for $6 million. By February 1997, the company had raised $5.1 million. In October 1996, Benchmark Capital purchased 25% of the company for $2.8 million, equivalent to a price of 87.5 cents per share. The company's goal was to develop appliances that would increase website speed by storing frequently accessed web data in the cache. The company initially raised $1 million in seed money from a dozen angel investors. in Redmond, Washington by Michael Malcolm, a computer scientist and professor at the University of Waterloo, Joe Pruskowski, and Doug Crow. In March 1996, the company was founded as CacheFlow, Inc.
The company's products were initially sold to internet service providers, but later products were intended for large companies. It also produced consumer products, such as parental control software.
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The company had "a broad security portfolio including hardware, software and services." The company was best known for web gateway appliances that scan internet traffic for security threats, authenticate users and manage encrypted traffic, as well as products to monitor and filter employee internet activity. The company was known as CacheFlow until 2002. In 2019 was, as part of Symantec Enterprise division, sold to Broadcom. In 2016, it was acquired by and folded into Symantec. Blue Coat Systems, Inc., was a company that provided hardware, software, and services designed for cybersecurity and network management.
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