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GitHub Gets $100 Million, Plans Hiring in San Francisco, CA. |
| by - 07/13/2012 |
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| "GitHub Gets $100 Million, Plans Hiring in San Francisco" |
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The GitHub secret is out. Venture capital firm Andreessen Horowitz has invested $100 million into the site, used by hackers to collaborate and store their coding projects. It's Andreessen Horowitz's largest-ever investment, and it values the start-up at $750 million.
GitHub, while not well-known outside of tech circles, is popular with software developers and engineers who use it to work on open-source and other side projects. The company has attracted 1.7 million developers to its site and savvy hiring managers cruise the site looking for talented developers too busy hacking to make it to networking events. Buddy Media, the social media advertising platform bought by Salesforce.com for $745 million, told FINS last August that it loves to hire engineers with four or five side projects on GitHub.
Until now, GitHub has steadfastly refused to take venture capital financing, arguing that it's been profitable since its first year and saw no need to give away equity, Bloomberg reports. Apparently, GitHub's change of heart came from its push into attracting business customers. The site is free for individual developers, though they can pay $25 a month to keep their code private, The Wall Street Journal reports. Its business product goes for $250 a year, per user. The attraction for companies is that they can have a virtual record kept of who did what on which project, enabling them to more quickly fix bugs or crashes.
GitHub has 100 employees and says it plans to hire more people quickly, WSJ reports |
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