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Ping Identity

From EverybodyWiki Bios & Wiki


Ping Identity
Public
Traded asNYSE: PING
ISIN🆔
Founded 📆2001; 24 years ago (2001)
Founder 👔
Headquarters 🏙️,
Denver, Colorado
,
United States
Number of locations
11
Area served 🗺️
Key people
Andre Durand, [1]John Bradley, Treasurer of OpenID
Products 📟 Single Sign-On
Revenue🤑 140.1 million USD (2018)[2]
OwnerVista Equity Partners
Members
Number of employees
841
🌐 Websitewww.pingidentity.com
📇 Address
📞 telephone

Ping Identity Corporation is a software company established in 2000 by Andre Durand and Bryan Field-Elliot[3] and headquartered in Denver, Colorado, United States with development offices in Vancouver, British Columbia, Tel Aviv, Israel, Austin, Texas, Denver, Colorado and Bangalore, India.[4] Ping also has European operations with offices in London, Paris, and Switzerland as well as offices in Bangalore, Melbourne, and Tokyo, serving Asia-pacific.

The company's software provides Federated Identity Management and self hosted Identity Access Management to web identities via attribute based access controls,[5] similar to identity management system tools developed by Microsoft and Okta.[6] This Single sign-on (SSO) gives users a single set of credentials to access applications (web applications, apps on mobile devices, VPN, etc) that have company data. This is primarily done with identity providers such as Ping, Okta, and Microsoft Azure by leveraging open standards such as SAML and OAuth.

Ping Identity products include PingID, PingFederate, PingOne, PingAccess, PingDirectory, PingDataConvernance, and PingIntelligence. Along with Okta, Microsoft, Salesforce, Google these comprise the "identity meta system" as defined in "Design Rationale behind the Identity Metasystem Architecture"[7]

Ping Identity Corporation[edit]

Ping Identity Corporation is a software company established in 2000 by Andre Durand and Bryan Field-Elliot, in Denver, Colorado. They provide Federated Identity Management and self hosted Identity Access Management (IAM) solutions to web identities and Single Sign On solutions, being one of a number of organizations competing to provide standards to replace passwords for authenticating to web applications.

Since being founded in 2001, Ping Identity has received a number of rounds of funding, beginning with a Series A on Apr 16, 2004. Since then, they have received $35M from Kohlberg Kravis Roberts on Sep 18, 2014 and $44M from DFJ Growth and W Capital Partners on Jul 16, 2013 as well as $21M from Silicon Valley Bank, Triangle Peak Partners on Jun 21, 2011 and $13M from Appian Ventures.[3]

Vista Equity Partners, a private equity firm based in San Francisco, acquired majority ownership of Ping Identity in a leveraged buyout for $600M on Jun 1, 2016.[8] Ping had already taken $125M in funding at that point.[9]

Ping is now valued between $2B and $3B and Vista Equity Partners will take the company public rather than sell them as is often the case with Vista. Goldman Sachs is leading Ping Identity's IPO.[10]

Ping Identity Holding Corp was listed on the New York Stock Exchange with 12,500,000 shares of common stock at $15.00 per share. [11] The value of the stock rose $5 in the first day and jumped to a 30% increase in the market debut [12]. This represented the first organization that Vista Holdings took public. Vista retains 80% ownership in the company [13]. The company is now valued at $1.56 Billion dollars. [14]

The company partnered with Salesforce.com,[15] Oracle[16] CRM On-Demand, Vendavo,[17] and PROS[18] to provide identity management and centralized login for these organizations.

Controversy Over Oauth[edit]

In July 2012, Eran Hammer resigned his role of lead author for the OAuth 2.0 project, withdrew from the IETF working group, and removed his name from the specification due to a conflict between the web and enterprise cultures. Hammer gave a presentation at a conference explaining his views.[19] citing the IETF as a community that is "all about enterprise use cases", that is "not capable of simple" as OAuth was initially designed. OAuth 2.0 is now a blueprint for an authorization protocol, he says, and "that is the enterprise way", providing a "whole new frontier to sell consulting services and integration solutions."[20]

References[edit]

  1. ↑ "FoxBusiness". Retrieved 2019-08-02.
  2. ↑ Mitra, Sramana (February 23, 2018). "What Is Ahead For Ping Identity?". Yahoo Finance. Retrieved August 2, 2019.
  3. ↑ 3.0 3.1 "Crunchbase". Retrieved 2019-08-02.
  4. ↑ "Vista Equity Partners". Retrieved 2011-04-12.
  5. ↑ "Ponying your coworkers with Ross Derewianko/" (Podcast). Retrieved 2019-08-02.
  6. ↑ "Attribute Based Access Control". NIST.gov. 2019-08-02. Retrieved 2019-08-02.
  7. ↑ "Design Rationale behind the Identity Metasystem Architecture". PSU.edu. 2019-08-02. Retrieved 2019-08-02.
  8. ↑ Robert Hackett (June 1, 2016). "Vista Equity Partners Is Acquiring Ping Identity". Fortune. Retrieved October 31, 2013.
  9. ↑ Cat Zakrzewski (June 1, 2016). "Vista Equity Partners to Acquire Ping Identity". Wall Street Journal. Retrieved August 2, 2019.
  10. ↑ "Vista Equity hires banks for Ping Identity IPO: sources". Reuters. 2018-12-11. Retrieved 2019-08-02.
  11. ↑ "Ping Identity Announces Pricing of Initial Public Offering". WSJ.com. 2019-08-18. Retrieved 2019-08-18.
  12. ↑ "Shares of secure login software maker Ping Identity surge more than 30% in their market debut". CNBC. 2019-08-19. Retrieved 2019-08-19.
  13. ↑ "Ping Identity Gains 34% in Trading Debut After $188 Million IPO". Bloomberg. 2019-08-19. Retrieved 2019-08-19.
  14. ↑ "Denver-Based Ping Identity Prices Shares At $15 Per Share". Crunchbase. 2019-08-19. Retrieved 2019-08-19.
  15. ↑ "SalesForce". Retrieved 2011-04-12.
  16. ↑ "Oracle Partner Network". Retrieved 2011-04-12.
  17. ↑ "Vendavo and BigMachines Announce Partnership". Vendavo. 2010-06-16. Archived from the original on 22 May 2011. Retrieved 2011-04-12. Unknown parameter |url-status= ignored (help)
  18. ↑ "PROS and BigMachines Announce Partnership". 2011-01-11. Retrieved 2011-04-12.
  19. ↑ "OAuth 2.0 - Looking Back and Moving On". Eran Hammer. 23 October 2012. Retrieved 5 August 2019.
  20. ↑ "OAuth 2.0 and the Road to Hell". Eran Hammer. 28 July 2012. Retrieved 17 January 2018.

External links[edit]


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