The standard from 1998 set the ground for a new era of compilers by defining how C++ programs should behave, and by describing the content of the standard library as well as the constraints on its implementation.
The standard is defined by The ISO C++ Committee, i.e. people from the industry: Google, HP, Intel, Oracle, and many more.
It is worth noting that no code is provided by the committee. The standard just describes the language, then independent developers (mostly compiler vendors) provide the implementation. Theoretically, developers can switch easily from one compiler to the other. Clients are not tied to the vendor’s compiler anymore.
As I write there are six revisions for this document, informally identified by the year they came out: