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Github Raises $100 Million

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Re: Github Raises $100 Million

#21

Post by yuvadam »

I hate to crash the party, but this is a very odd move for an awesome company and a service that I use and Github has always been against taking money. Actually, TPW has used some very harsh words criticizing startups that choose to take VC money.

Now, Github raises 100 gazillion dollars? How the f*ck do they plan on spending that wisely? Sure, it's nice to have that sum in the bank. But, in all honesty, someone has to explain how this is a reasonable move, because I simply don't get it.

Re: Github Raises $100 Million

#22

Post by richardv »

"finally" raises funding.

In my mind the $750M valuation is still actually pretty consevative. GitHub has a long long way to go and I see so many great things ahead for the team, but I don't understand why they would raise $100M?

Is this a deal for the founders to take some money off of the table? I don't see what benefits $100M will have for them.

(Don't shoot me for my opinions on this one), but I think it's also really only a matter of time before the legacy systems move from SVN/Mercurial/CVS onto GitHub. Some people use BitBucket (I guess because Atlassian makes some other great software). SourceForge (past it's sell-by-date), and Google Code isn't really suitable for anything other than hosting specific release candidates or tags..

Re: Github Raises $100 Million

#25

Post by mrkmcknz »

yuvadam wrote: post #21

I hate to crash the party, but this is a very odd move for an awesome company and a service that I use and Github has always been against taking money. Actually, TPW has used some very harsh words criticizing startups that choose to take VC money. Now, Github raises 100 gazillion dollars? How the f*ck do they plan on spending that wisely? Sure, it's nice to have that sum in the bank. But, in all honesty, someone has…

http://venturebeat.com/2012/07/09/github-funding-say-what/

Re: Github Raises $100 Million

#26

Post by herval »

oldgregg wrote: post #7

What a great way to ruin a perfectly awesome company.

why would it ruin them? Given the valuation people are talking about, they sold less than 15% of the business - they'll probably retain enough control to do whatever they want with it and probably try new things...

I personally know at least one company that has been profitable from the very beginning and took 3 rounds of VC already, always on the same terms: "we don't need your money, so we'll sell you a very small piece for a large sum and run with it the way we do today". In the end, it's a great way to either cash-out, put some money in the bank to avoid future surprises or launch new experiments/products with minimal risk...

Re: Github Raises $100 Million

#27

Post by leftnode »

yuvadam wrote: post #21

I hate to crash the party, but this is a very odd move for an awesome company and a service that I use and Github has always been against taking money. Actually, TPW has used some very harsh words criticizing startups that choose to take VC money. Now, Github raises 100 gazillion dollars? How the f*ck do they plan on spending that wisely? Sure, it's nice to have that sum in the bank. But, in all honesty, someone has…

Maybe they're building their own data center? Or really trying to expand into the enterprise market by going up head to head with Atlassian (expanding their issues and Wiki tools to complete separate packages). All speculation, of course.

Re: Github Raises $100 Million

#28

Post by forgotusername »

yuvadam wrote: post #21

I hate to crash the party, but this is a very odd move for an awesome company and a service that I use and Github has always been against taking money. Actually, TPW has used some very harsh words criticizing startups that choose to take VC money. Now, Github raises 100 gazillion dollars? How the f*ck do they plan on spending that wisely? Sure, it's nice to have that sum in the bank. But, in all honesty, someone has…

$100m to maintain their current product doesn't make sense, but I imagine they're interested in growing (duh). Adding 100 developers and 50+50 sales/support guys could easily eat $25m a year.

Re: Github Raises $100 Million

#30

Post by nostromo »

yuvadam wrote: post #21

I hate to crash the party, but this is a very odd move for an awesome company and a service that I use and Github has always been against taking money. Actually, TPW has used some very harsh words criticizing startups that choose to take VC money. Now, Github raises 100 gazillion dollars? How the f*ck do they plan on spending that wisely? Sure, it's nice to have that sum in the bank. But, in all honesty, someone has…

Pulling from an old blog post, I don't see any inconsistency.

http://tom.preston-werner.com/2010/10/18/optimize-for-happin...

> The ironic thing about bootstrapping and venture capital is that once you demonstrate some success, investors will come to YOU. When this happens you will be in a much better place to make a more reasoned choice about taking on additional capital and all the complexities that come with it. Talking to VCs with some leverage in your back pocket is an entirely different game from throwing yourself in front of a conference table full of general partners and trying to persuade them that you're worth their time and money. Power is happiness.

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