Google's parent company Alphabet backs GitLab post GitHub's acquisition by Microsoft
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A couple of months back, Microsoft announced their acquisition of GitHub following which many questioned if the platform will still remain open source post-acquisition. This also helped GitHub’s rival GitLab as many users migrated to GitLab.
Apart from Microsoft, Alphabet was another company betting on GitHub and since it could acquire it, Google’s parent company decided to invest in GitLab. GitLab recently raised $100 million to expand its suite and compete with the likes of GitHub. The $100 million sum included $20 million invested by Alphabet through GV (formally known as Google Ventures).
You sometimes see companies start out as open-source and then get alienated from their contributors. We work really hard to make sure that won’t happen.
– Sid Sijbrandij, Chief Executive Officer, GitLab
With the latest rounds of funding, GitLab is now valued at more than $1 billion. Apart from GV, Iconiq Capital and Khosla Ventures also participated in the latest financing round.
Via: Bloomberg Quint
