Gitlab S-1 • Hacker News Board

Re: Gitlab S-1

#11

Post by statictype » Fri, Sep 17, 2021, 5:34 PM UTC

priansh wrote: post #6

This seems like a weird move given that developer tools seldom do well on public markets. I can’t help but think that staying private would do more to maintain their community & preserve the reasons people opt for GitLab over GitHub.

MongoDB and Twilio have both done reasonably well haven't they?

Which developer tools have not done well?

Re: Gitlab S-1

#12

Post by rvz » Fri, Sep 17, 2021, 5:35 PM UTC

> Our business has experienced rapid growth. We generated revenue of $81.2 million and $152.2 million in fiscal 2020 and 2021, respectively, representing growth of 87%. We generated revenue of $63.9 million and $108.1 million for the six months ended July 31, 2020 and July 31, 2021, respectively, representing year over year growth of 69%. During this period, we continued to invest in growing our business to capitalize on our market opportunity. Our net loss was $130.7 million, $192.2 million, and $69.0 million in fiscal 2020, fiscal 2021, and the six months ended July 31, 2021, respectively.

Another buy in my books after calling CloudFlare [0] and DigitalOcean [1]. Looking forward to the listing of 'GTLB'.

[0] https://news.ycombinator.com/item?id=20707306

[1] https://news.ycombinator.com/item?id=26262799

Re: Gitlab S-1

#13

Post by riffic » Fri, Sep 17, 2021, 5:35 PM UTC

merrvk wrote: post #5

What a shame

yeah it's a real shame for the folks with equity to finally have liquidity.

I'm not really seeing what's shameful about a public exit. They're a great company with an amazing product. This is good for GitLab.

Re: Gitlab S-1

#14

Post by spullara » Fri, Sep 17, 2021, 5:36 PM UTC

priansh wrote: post #6

This seems like a weird move given that developer tools seldom do well on public markets. I can’t help but think that staying private would do more to maintain their community & preserve the reasons people opt for GitLab over GitHub.

Like Atlassian? (Now at a $100B valuation on the public market)

Re: Gitlab S-1

#15

Post by dec0dedab0de » Fri, Sep 17, 2021, 5:36 PM UTC

JohnWhigham wrote: post #2

Our recent growth may not be indicative of our future growth, and we may not be able to sustain our revenue growth rate in the future. Our growth also makes it difficult to evaluate our future prospects and may increase the risk that we will not be successful. I don't know why I thought Gitlab was completely private, but...welp, see ya later Gitlab. I'm looking forward to see what revenue you can squeeze out of custo…

Even if they go broke and get taken over by a completely evil group tomorrow they will have left behind a very nice open source project.

Re: Gitlab S-1

#16

Post by _gmnw » Fri, Sep 17, 2021, 5:37 PM UTC

priansh wrote: post #6

This seems like a weird move given that developer tools seldom do well on public markets. I can’t help but think that staying private would do more to maintain their community & preserve the reasons people opt for GitLab over GitHub.

Source? Look at MongoDB, Okta, Datadog, Elastic, etc... they wanted more capital, I'm sure their staff wanted liquid equity, this seems like a win for everyone.

Re: Gitlab S-1

#17

Post by LewisVerstappen » Fri, Sep 17, 2021, 5:37 PM UTC

> We have been a 100% remote workforce since inception and, as of July 31, 2021, had approximately 1,350 team members in over 65 countries. Operating remotely allows us access to a global talent pool that enables us to hire talented team members, regardless of location, providing a strong competitive advantage.

Will be interesting to see how many publicly traded companies are fully remote in 5, 10, 15 years.

Especially since many new startups are starting as fully remote (and will probably stay that way and eventually IPO) and some publicly traded companies have shifted to fully remote (Coinbase, Square, Twitter)

Re: Gitlab S-1

#18

Post by TylerJewell » Fri, Sep 17, 2021, 5:38 PM UTC

priansh wrote: post #6

This seems like a weird move given that developer tools seldom do well on public markets. I can’t help but think that staying private would do more to maintain their community & preserve the reasons people opt for GitLab over GitHub.

I write extensively about developer businesses and markets: https://tylerjewell.substack.com/p/developer-led-landscape-2...

Re: Gitlab S-1

#19

Post by [deleted] » Fri, Sep 17, 2021, 5:39 PM UTC

priansh wrote: post #6

This seems like a weird move given that developer tools seldom do well on public markets. I can’t help but think that staying private would do more to maintain their community & preserve the reasons people opt for GitLab over GitHub.

[deleted]

Re: Gitlab S-1

#20

Post by ithinkso » Fri, Sep 17, 2021, 5:39 PM UTC

riffic wrote: post #13

merrvk wrote: post #5

What a shame

yeah it's a real shame for the folks with equity to finally have liquidity. I'm not really seeing what's shameful about a public exit. They're a great company with an amazing product. This is good for GitLab.

It is good for GitLab, what a shame for GitLab's users