Cloudflare, Inc. (NYSE:NET) disclosed the opening of a new headquarters and technical hub in Lisbon, Portugal, to support its expanding EMEA operations and offices in London, Paris, Munich, and Dubai.

Since 2019, the team in Portugal has grown from 14 to over 350 employees, and there are plans for further expansion in the coming years.

Cloudflare officially opened its new Lisbon office with a ribbon-cutting ceremony, followed by a reception attended by Portugal’s Minister of Economy, Pedro Reis, and other officials.

The company’s key Cloudflare executives, including co-founder and CEO Matthew Prince and CTO John Graham-Cumming, who opened the Lisbon office in July 2019, were also present at the event.

Cloudflare plans to expand further in the region as it continues to grow its global network, which already supports millions of Internet properties.

Cloudflare will continue collaborating with partners to support joint customers and drive further regional growth.

Pedro Reis, Minister of Economy of Portugal said, “Portugal is playing a role in the emerging geo-economy over the next few years. We are massively investing in strategic infrastructure, energy, innovation, and research and development. And, we want to continue to develop and attract new talents.”

Matthew Prince, co-founder & CEO of Cloudflare, said, “Cloudflare has been invested in Portugal for the past eight years, and it continues to be a well-connected international hub and a vibrant tech ecosystem. It’s home to an impressive talent pool and supportive government initiatives.”

Last week, Cloudflare appointed Chirantan “CJ” Desai as President of Product & Engineering to drive growth toward $5 billion ARR.

Investors can gain exposure to the stock via Spear Alpha ETF (NASDAQ:SPRX) and TrueShares Technology, AI & Deep Learning ETF (NYSE:LRNZ).

Price Action: NET shares are up 0.25% at $90.63 premarket at the last check Friday.

Photo via T. Schneider/Shutterstock.com

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