$1.1 Billion? That too much, even Github hasn't reached profitability yet inspite of being the most popular Code hosting site. Gitlab can never reach the level

$1.1 Billion? That too much, even Github hasn't reached profitability yet inspite of being the most popular Code hosting site. Gitlab can never reach the level of popularity that Github has. Then how are they valuing it at the price point? Some of Khoslas investment lately are so off, for instance the 'Hyperloop' transport Inc.