GitHub Raises $100 Million In Funding From Andreessen Horowitz
GitHub is a coding collaboration website that has raised $100 million from Andreessen Horowitz in a highly competitive deal. This is Andreessen Horowitz’s largest investment ever. This is a pretty massive Series A round also. This round of funding values GitHub at about $750 million.
GitHub has been bootstrapping for the last 5 years and has been profitable. GitHub is considered like a resume to open source developers and it has been a crucial website for tech companies.
Over half of the code hosted on GitHub is open source and free. GitHub makes money by charging companies for private code repositories.
“We knew that GitHub was going to work as a company when during the private beta people started offering to pay,” said GitHub CEO Tom Preston-Werner. “We made thousands the first day we launched.”
GitHub has 100 employees and half of them work remotely. They have 1.7 million users on their hosted site with over 3 million code projects. Andreessen Horowitz partner Peter Levine is joining the GitHub board of directors as a result of the funding.
“We have a list of features a mile long,” Preston-Werner said. “The money is going to help us find the very best people.”This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry