NEWS
NEWS
NEWS
Report: GitHub looking to raise $200m on a $2b Unicorn valuation
Git repository hosting service GitHub, Inc. is said to be looking to raise a Series B round of $200 million.
According to Bloomberg Business, who quotes “people familiar with the matter,” the new round will be on a Unicorn valuation of $2 billion.
Founded in 2008, GitHub has become arguably the most popular Git hosting site online, offering the distributed revision control and source code management functionality of Git, along with its own features to more than 8 million users who use the site to share code.
The site hosts a wide variety of open-source projects, including prominent projects such a Docker, Meteor, Node.js, and RethinkDB.
Along with its online collaborative features, GitHub offers desktop apps and GitHub Enterprise, a version which is said to make it easier for individuals and teams to write better code.
The company makes its money through subscriber-based premium versions for businesses, that offer private hosting that can’t be seen by others.
While a popular platform, the history of a the company hasn’t been all without drama, with Co-founder Tom Preston-Werner leaving the company in 2014 after being accused, along with his wife Theresa, of engaging in gender-based harassment and discrimination.
An internal investigation by GitHub subsequently dismissed the allegations, but the tarnish of them, in an age of social justice obsessions in the tech sector, remains.
More money
If the round takes place, it will only be the second round for GitHub, who operated without the influence of venture capital for many years until raising $100 million Series A in 2012 in a round from Marc Andreessens’s VC firm Andreessen Horowitz.
At that time SiliconANGLE founder John Furrier wrote:
GitHub’s success has been mainly in their awesome product market fit. The founders and employees really understood the market need and delivered a solid product to meet that need. However, their massive valuation really comes down to the what GitHub evolved into… A Social Network for developers.
Github is extremely valuable at many levels the product, market, and user experience.
The same holds true in 2015.
If you haven’t done the sums already, if the Series B round takes place, GitHub’s total funding will come to $300 million.
Image credit: peterhellberg/Flickr/CC by 2.0
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