Okta Expects 30% Annual Growth to 2024, Boosted by New Markets

Okta Inc., an identity-verification software maker whose business got a dramatic boost from the shift to remote work during the pandemic, projected sales will grow 30% in each of the next three years.

Revenue at the end of fiscal 2024 will be close to an annualized $2 billion, or about $500 million for the fourth quarter that year, Chief Executive Officer Todd McKinnon said in an interview. The company, which last month agreed to buy Auth0 for about $6.5 billion, is interested in additional acquisitions, McKinnon said, but will achieve that growth rate without any more deals. 

Demand for the software maker’s products, which help workers access corporate systems and consumers authenticate their identity online, has increased as more employees logged on from home during the past year. For the 12 months through March 1, Okta was used more than 52 billion times to log into an app or website,

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Supreme Court Decision Affirms Open-Source’s Role in Modern Software Development

A Supreme Court ruling that sided with

Alphabet Inc.’s

Google in its 10-year legal battle with

Oracle Corp.

reaffirms the business model behind open-source software—sharing bits of computer code for free, experts said.

The ruling on Monday said Google did not violate copyright protections when it used lines of Java computer code that allow its Android mobile operating system to connect to other software. Oracle acquired Sun Microsystems Inc., which created Java, in 2010.

Experts said the ruling affirmed the right of companies to freely use one another’s software to some extent, a practice that has been key to innovation and interoperability. Some voiced concern that the line between fair use and copyright infringement was unclear, and that it could make it harder for startups to make a return on their investment. Others said a ruling in Oracle’s favor might have encouraged a wave of copyright lawsuits that could

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