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GitHub has received a $250m infusion of venture-capital cash that values the code-sharing website at $2bn.
That means it's worth more than ZenDesk ($1.78bn), slightly less than the New York Times ($2.17bn), and more than stricken Yelp ($1.87bn).
The San Francisco-based upstart said its Series-B funding round was led by VC bigwigs Sequoia Capital, Andreessen Horowitz, Thrive Capital, and Institutional Venture Partners. The round is the second major fundraising push for GitHub. In 2012, the site raised $100m in venture funding. GitHub was founded in 2008, and today has about 300 total employees.
The site reports it hosts 25 million source code repositories, and has 10 million registered users and 33 million unique monthly visits.
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Git a load of this: GitHub now valued at $2 billion
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There's no such thing as an original sin.
-- Elvis Costello
(Score: 2) by PizzaRollPlinkett on Friday July 31 2015, @11:04AM
They realized that managers today know only two things: outsource stuff and purge workers. They know that managers will outsource anything and everything they can. Corporations these days are just shells of managers who manage outsourcing.
So, yes, git is open source and anyone could set up their own repository. But managers want to outsource. I commend github for finding the pulse of today's businesses. I think the valuation is realistic. Github provides a service that managers will pay for, because that's what managers do these days.
Tech companies that are highly valued these days seem to be the ones which have figured out how to print money. Github (and any "cloud" company) gets money from corporations who want to outsource. LinkedIn has figured out how to get almost unlimited money from desperate recruiters who will pay them to send e-mails. (To us, that sounds stupid, but to a recruiter, it doesn't, and they apparently have money to spend.) Apple has figured out that enough people will pay a premium for quality that they're sitting on so much cash they can't spend it all even after building a monumentally lavish headquarters.
(E-mail me if you want a pizza roll!)