Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
Editorials & Other Articles
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
GitHub raises $250 million in new funding, now valued at $2 billion
Wow.
http://fortune.com/2015/07/29/github-raises-250-million-in-new-funding-now-valued-at-2-billion/
The popular online repository for software code raises its second round of funding.
It’s undeniable that businesses are increasingly recognizing the importance of software, and the $250 million that Silicon Valley company GitHub just raised confirms that notion.
On Wednesday, the seven-year-old company confirmed recent rumors that it was raising a funding round north of $200 million, which values the company at roughly $2 billion, according to the Wall Street Journal. GitHub is favorited by developers due to its free service that lets them store software code in cloud data centers. Its free tier has become a staple tool for developers, from students to hobbyists and even professionals, and its paid tiers, which include privacy and other additional features, are purchased by many tech companies and teams.
GitHub’s software repositories have also become a key tool for the “open source” movement, which centers around making software freely and openly available to everyone, and encourages community contributions to improve and evolve the code. It’s also used by many developers as a way to showcase their skills—a portfolio of sorts—to potential employers, customers, and collaborators.
GitHub co-founder and CEO Chris Wanstrath told the Journal that the company plans to use the new funding to “make really big investments,” expand internationally, and invest in new products.
It’s undeniable that businesses are increasingly recognizing the importance of software, and the $250 million that Silicon Valley company GitHub just raised confirms that notion.
On Wednesday, the seven-year-old company confirmed recent rumors that it was raising a funding round north of $200 million, which values the company at roughly $2 billion, according to the Wall Street Journal. GitHub is favorited by developers due to its free service that lets them store software code in cloud data centers. Its free tier has become a staple tool for developers, from students to hobbyists and even professionals, and its paid tiers, which include privacy and other additional features, are purchased by many tech companies and teams.
GitHub’s software repositories have also become a key tool for the “open source” movement, which centers around making software freely and openly available to everyone, and encourages community contributions to improve and evolve the code. It’s also used by many developers as a way to showcase their skills—a portfolio of sorts—to potential employers, customers, and collaborators.
GitHub co-founder and CEO Chris Wanstrath told the Journal that the company plans to use the new funding to “make really big investments,” expand internationally, and invest in new products.