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Juniper Networks history
Juniper Networks company history timeline
Juniper established a technology relationship in July 1996 with IBM, to produce all the application-specific integrated circuits (ASICs) designed by Juniper for its Internet platforms.
Kleiner Perkins invested in 1996.
By February 1997, Juniper had raised $8 million in venture funding.
Founded in 1997, Layer Five was a group of advanced developers of network hardware architectures and related software.
1998: Company ships first product, the M40 Internet backbone router.
Juniper Networks had $3.8 million in annual revenue in 1998.
Juniper Networks filed for an initial public offering in April 1999 and its first day on the NASDAQ was that June.
In June 1999, three years after its launch, Juniper went public and became our most profitable venture capital investment, returning 2500x the original investment.
Juniper announced a three-for-one stock split on November 16, 1999, entitling each stockholder at the close of business on December 31, 1999 to receive two additional shares for every outstanding share of common stock held on the record date.
The M40 won industry recognition for the best new product, including PC Magazine UK's 1999 Technology Innovation Award.
Supporting this new product development were 650 Juniper employees, up from 260 in 1999.
A subsidiary was created in Japan and offices were established in Korea in 1999.
On April 13, 2000, Juniper announced a two-for-one stock split.
According to John Shinal in the September 11, 2000 issue of Business Week, "Even though Juniper's biggest machine costs $400,000 on average—twice the price of Cisco's—customers can't get enough of them.
2000: Whoever Grows the Fastest, Wins
The metropolitan Internet edge routing market was estimated at $1.2 billion in 2000.
Juniper Networks's revenues grew 600% in 2000 to $673 million.
In late 2000, Juniper formed a joint venture with Ericsson to develop and market network switches for internet traffic on mobile devices, and with Nortel for fiber optic technology.
By 2001, Juniper controlled one-third of the market for high-end core routers, mostly at the expense of Cisco Systems sales.
Juniper's growth slowed in 2001 as the telecommunications sector experienced a slowdown and revenues fell by two-thirds during the dot-com bust.
By 2004, Juniper controlled 38% of the core router market.
Beginning in 2004, with the acquisition of NetScreen, Juniper Networks began developing and marketing products for the enterprise segment.
By 2005, enterprise customers accounted for one-third of the company's revenues, but it had spent $5 billion in acquisitions and R&D for the enterprise market.
In 2006, more than 200 US companies restated their financial results due to a series of investigations into stock backdating practices.
By 2007, it had a 5%, 18% and 30% share of the market for enterprise, edge and core routers respectively.
In July 2008, Juniper's first CEO, Scott Kriens, became chairman and former Microsoft executive Kevin Johnson was appointed CEO. Johnson focused the company more on software, creating a software solutions division headed by a former Microsoft colleague, Bob Muglia.
In 2012, Juniper laid off 5% of its staff and four of its high-ranking executives departed.
In January 2014, hedge fund, activist investor and Juniper shareholder Elliott Associates advocated that Juniper reduce its cash reserves and cut costs, before Kheradpir was officially appointed.
In May 2014, Palo Alto Networks agreed to pay a $175 million settlement for allegedly infringing on Juniper's patents for application firewalls.
In November 2014, Kheradpir unexpectedly resigned following a review by Juniper's board of directors regarding his conduct in a negotiation with an unnamed Juniper customer.
Rami Rahim became the CEO in 2014, after which the company has started focusing on development of new networking products defined by software.
In 2015, Wired Magazine reported that the company announced it had found unauthorized code that enabled backdoors into its ScreenOS products.
© 2022 Kleiner Perkins
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Juniper Networks competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Fortinet | 2000 | $6.0B | 9,700 | 354 |
| Netgear | 1996 | $673.8M | 1,008 | 16 |
| Citrix | 1989 | $3.2B | 9,000 | 6 |
| HP | 1939 | $53.6B | 53,000 | 313 |
| IBM | 1911 | $62.8B | 270,000 | 3,560 |
| Extreme Networks | 1996 | $1.1B | 2,713 | 78 |
| VMware | 1998 | $13.4B | 31,000 | 2 |
| Dell | 1984 | $95.6B | 165,000 | 134 |
| Intel | 1968 | $53.1B | 121,100 | 381 |
| Adobe | 1982 | $21.5B | 11,847 | 902 |
Juniper Networks history FAQs
Zippia gives an in-depth look into the details of Juniper Networks, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Juniper Networks. The employee data is based on information from people who have self-reported their past or current employments at Juniper Networks. 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 Juniper Networks. The data presented on this page does not represent the view of Juniper Networks and its employees or that of Zippia.
Juniper Networks may also be known as or be related to Appformix Inc., JUNIPER NETWORKS INC, Juniper Networks, Juniper Networks (Venture Capital), Juniper Networks Inc and Juniper Networks, Inc.