An Alphabet spinout announced its first new cybersecurity product, and competitor Splunk’s stock fell 5% (SPLK)

Elijah Nouvelage/Reuters

  • On Monday, ?utm_source=feedburner&utm_medium=referral”>Chronicle — a subsidiary of Google parent company Alphabet — announced a cybersecurity product called Backstory.

  • Splunk, which offers a similar product, saw its stock down 5% at the time of close on Monday.
  • Last week, Splunk beat Wall Street’s expectations for its quarterly earnings.
  • Chronicle began its life at the Google X labs before getting spun out on its own. 

On Monday, Chronicle — a subsidiary of Google parent company Alphabet — announced Backstory, a cybersecurity product designed to help companies figure out how to protect themselves from hackers. 

See the rest of the story at Business Insider

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