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Proofpoint CEO: Target's Breach, Chinese Spying Boosting Security Biz

Proofpoint's stock has come down this spring because of the snapback in tech valuations, nevertheless, internet security remains a hot space in the wake of Chinese hacking and Target's credit card breach, says the company's CEO Gary Steele. Steele says the surge in demand is demonstrated by the company's 39% Q1 revenue growth, as well as its ability to beat Wall Street forecasts since going public in April 2012. Steele says the company's recent acquisition NetCitadel enables organizations to respond quicker to security incidents. Finally, Steele predicts "malvertising" will increasingly become an issue as hackers try to steal data through internet ads.