$OKTA has decided to acquire one of its leading competitors, Auth0, for a pretty generous $6.5B valuation. The company was privately valued at $1.9B in July 2020.

It’s an interesting play for Okta which has been so vehemently focused on serving the enterprise whereas Auth0 has very much been about the developer. My read is that this is another indication of the growing importance of the developer in all things cloud, identity, and security.

What’s actually really interesting is how negative the markets have been today for Okta overall.