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I think they idea was to pick up the pieces when Slack implodes. Most of these businesses, looking for 10x growth, do so at some point. gitlab and bitbucket ai
by woofie11 7y ago
I think they idea was to pick up the pieces when Slack implodes. Most of these businesses, looking for 10x growth, do so at some point.
gitlab and bitbucket ain't github, but as github started burning, they started picking up steam. github sold for $7.5 billion. If they can get 1% of that value, that's still $75 million. If they can do so on the cheap, maintaining control, that's not a bad return. I doubt something like gitlab requires more than 5 people to do well enough to achieve that, given patient, low-overhead investors. Done well, that's $75 million returns for a $10 million investment. If you toss the investor $50 mil, and each employee $5 mil, it's not bad.
On the other hand, as far as I know, patient low-overhead investors are a myth.
- distances 7y agoI'm not sure if you're trying to say that GitLab could be five-person company, but it's much larger. I don't think they list the number of employees, but say 56 countries so I'd wager at least two or three times that.
- williamchia 7y agoGitLab has 736 team members - https://about.gitlab.com/company/team/ https://about.gitlab.com/company/team/
- zizee 7y agoGitlab also raised 100 mil on a 1.1 billion valuation fairly recently: https://www.businessinsider.com/gitlab-valuation-microsoft-github-2018-9 https://www.businessinsider.com/gitlab-valuation-microsoft-g...
- woofie11 7y agoI am saying, exactly, that it could be, waiting in github's wings with 5 employees. They were exactly that at some point. They started in 2011, and they went for Y Combinator in 2015. They waited, and waited, and then grew. The $100 mil raise was right after MS bought github.