Here's the one-hundred forty-fifth issue of COSS Weekly, the global commercial open source (COSS) company category newsletter, brought to you every weekend by the team at OSS Capital, creators and stewards of COSS Community and Open Core Summit.
We deliver only the most fresh 😋 news from the previous week in COSS across: Funding, Content, Jobs, Liquidity and $COSS (Public Markets).
Last week saw $338M in funding announcements from HuggingFace, Modular, and Trigger.dev, the finalization of ThomaBravo's $2.3B acquisition of ForgeRock, major updates from Cal.com and OpenBB, and more!
Enjoy!
💰 COSS Funding: $338M
- HuggingFace, the AI collaboration platform, announced their $235M Series D (at $4.5B valuation) led by Salesforce VC and Google Ventures. Link
- Modular, a platform for AI development, announced their $100M funding round led by General Catalyst. Link
- Trigger.dev, a background jobs framework, announced their $3M Seed led by Y Combinator and other investors. Link
- clem 🤗: "Super excited to welcome our new investors @SalesforceVC, @Google, @amazon, @nvidia, @AMD, @intel, @QualcommVenture, @IBM & @sound_ventures_ who all participated in @huggingface's $235M series D at a $4.5B valuation to celebrate the crossing of 1,000,000 models, datasets and apps... https://t.co/OyeguI5v0g https://t.co/fuDp8AsHRi" Link
- Marc Benioff: "Salesforce Ventures is thrilled to lead the financing of @huggingface. Congrats @ClementDelangue & team. Huggingface is accelerating the Ai ecosystem through its amazing community. SV has deployed $5B w/ 30+ IPOS, & 100+ ACQUISITIONS. ❤️🤗 https://t.co/gwGjGoFmCx" Link
📚 COSS Content
Didier Lopes: "This is SO impressive! 🔥🔥🔥 Now you can get all the financial data that is accessible through the OpenBB SDK on Excel. AND it uses the same convention as the SDK so that you don't need to learn 2 different syntaxes. This really is an exciting time to be building the future... https://t.co/wWCQWzLkN3" Link
JJ --- e/acc: "Such a privilege to meet @peer_rich IRL for the first time ever in over 2 years of partnering. Wild that @OSSCapital wired $8M (seed and A) to @calcom without ever meeting in person! Cal is now beacon of inspiration for every emerging COSS founder! 🙇🏻♂️ https://t.co/hrGb65UPhT" Link
Didier Lopes: "Today is @openbb_finance 2 years anniversary of our incorporation. In that time we've had: - 100k+ downloads of our installer since we started tracking it - 2.5M bot commands have been run on Discord and Telegram from over 40k users - GitHub project grew from 8k stars to 23k+,... https://t.co/Z65Y2jojHT https://t.co/SH0iRGQVS4" Link
rustdesk: "✨｡ ･｡ ⚡ RustDesk 1.2.2 ⚡ ･｡ ✨ https://t.co/414ZelQ3Zc" Link
JJ --- e/acc: "Words of wisdom ALL open source founders must think deeply about and take to heart........ https://t.co/2ul9p3oaYT" Link
Didier Lopes: "We also just cross 17k users on OpenBB Hub 🚀 https://t.co/4TekIpVJhb https://t.co/39TsKcrCYN" Link
Vamsi Kurama: "Locations with the Highest Traffic for @planepowers 1. Russia 2. Europe 3. United States 4. India 5. China Data insights are always surprising and exciting to work on. We are handling close to 500,000 requests every single month across all https://t.co/v10vPVh5Y3 domains. https://t.co/o9enTXZiuh" Link
Documenso: "As we move beyond MVP and onto creating the open signing infrastructure, co-founder and CTO @lxunos published a post to explain the reasoning: https://t.co/eqFxBxEg2b" Link
Documenso: "We just hit 3,000 stars on @github. THANK YOU for your support on this journey to build a beautiful, open-source alternative to DocuSign 💚 https://t.co/qpe7VWJNne https://t.co/NApgF21BAZ" Link
Didier Lopes: "We hit our record of new OpenBB Hub signups last week, 1303 new users! 🚀 https://t.co/KL0c2VcMhr" Link
Nevo David: "The era of open-source (application-level) COSS startup is here. Can't wait to see what new alternatives will come." Link
JJ --- e/acc: "When in doubt, open source it." Link
JJ --- e/acc: "POST-MONEY valuations at Series A👇🏼 MongoDB: $11M (July 2008) Elastic: $40M (November 2012) Databricks: $43M (September 2013) Confluent: $14M (November 2014) HashiCorp: $34M (December 2014) GitLab: $15M (September 2015) Now collectively worth > $70B." Link
Didier Lopes: "1st time showing the OpenBB Terminal Pro LIVE. https://t.co/k3urjf59w3" Link
Emily Omier: ""There are different types of [business] models out there in the open-source community and I think the sooner you know as an organization which path you're going, the better it will be in the long term." - @FKarlsberger The Business of Open Source: https://t.co/NUA4wcvJaT" Link
Yann LeCun: "Seamless4MT: Massive Multilingual Multimodal Machine Translation. Language translation + speech recognition + speech synthesis in a single model: speech-to-speech, text-to-text, speech-to-text and text-to-speech. Works for 100 languages. Code available under CC-BY-NC license.... https://t.co/IVt6q1NRqt" Link
VentureBeat: "Proton debuts VPN for Business, enabling IT departments to control access to content and apps https://t.co/MVpnrlVIdO" Link
zeldman: "Automattic CEO @photomatt talks @Tumblr, #AI, and open source social media. https://t.co/2zGNFat0DU #automattic #OpenSource @automattic" Link
Igor Kotua: "Does anybody work on an open-source alternative to Loom?" Link
COSS Community 🌏: "@garrrikkotua Looks dead now: https://t.co/xgzNF0H5ig" [Link](https://twitter.com/garrrikkotua/status/1694104990107754821)
PyQuant News 🐍: "OpenBB routines: - Automate your workflow - List a series of commands - Use others' public routines This is seriously game changing for finance professionals engaged in market research. 🎉 to the team for the release! https://t.co/LhTUn4keuI" Link
Peer Richelsen: "join me, @jengelberg and @yanokwa on a panel on September 7 and discuss the future of open source https://t.co/eKEfUuGBH0" Link
JJ --- e/acc: "Fine tuning closed AI models hosted by someone else is the highest form of data entrapment." Link
JJ --- e/acc: "COSS founders doing livestreams / building in public ... use @owncastlive https://t.co/obtAuoFgvg" Link
Kenny Bastani: "17 days of creating a new event-driven non-blocking state-machine framework on top of Spring , just to support the massive efforts I've put into the LLM library I've written. Not shown here! @JosephJacks_ commitment for OSS has given me a reason to release it as open source. https://t.co/Ws0iataASR" Link
JJ --- e/acc: "Aggressive but yes, directionally ... *COSS. https://t.co/4vGCz0rTbi" Link
JJ --- e/acc: "India landed on the moon today... and many of our fastest growing COSS founders are in India, living there and scaling globally as well. To the moon, stars and beyond. 🇮🇳🚀🌚✨🪐" Link
JJ --- e/acc: "When YC had admitted < 20 open source startups in early 2020, I sent this email to @paulg ... he never replied. 3.5 years later, YC has admitted > 200 open source startups. 🤓 https://t.co/WRGPxX7U9N" Link
Peer Richelsen: "undervalued fact for society is that when a COSS company fails, the asset lives on, likely managed in a foundation when a SaaS company fails, everybody loses and the assets either get destroyed or sold off in a firesale for pennys to the dollar" Link
Open Source Startup Podcast🎙: "Ep 101 of the Open Source Startup Podcast is LIVE🎙️ @tnachen & @amanda_robs talk with @pydantic Founder @samuel_colvin about building their wildly popular data validation library 💪 Check it out 👇 https://t.co/nvxyyFzmxk" Link
COSS Community 🌏: "@maverickdotdev @youngtarun23 @ycombinator 👀 https://t.co/EwYzIiQO0z" [Link](https://twitter.com/maverickdotdev/status/1694436311711502428)
Sid Sijbrandij: "HashiCorp is the latest company to switch its licensing model and probably won't be the last. The only way to prevent relicensing open source code is to adopt an open charter, a legal adoption of the company's commitment to open source. https://t.co/TAIUpTh8cB" Link
JJ --- e/acc: "This is not always true and GREATLY depends on the specific technology, maturity thereof, layer in the stack, competency of your company, etc etc etc etc... Many caveats. https://t.co/RGB1nvUN3D" Link
Yam Peleg: "If you believe open source models are far behind the current leading LLMs you are about to be VERY surprised" Link
Vial: "Thrilled to announce our collaboration with @documenso! 🤝 Together, we're shaping the future of document signing in life sciences with an open-source solution that's CFR Part 11 compliant. 🚀 #TechInLifeSciences #Innovation #ClinicalTrials https://t.co/jCjWnvqpMm https://t.co/Khxzq30aa6" Link
Nikhil Thorat: "We are excited to announce Lilac (@lilac_ai), a new Open Source product to analyze, structure and clean data with AI. Our mission is to make unstructured data visible, quantifiable, and malleable. 🌸 Announcement blog: https://t.co/6Hp1wa0pqf https://t.co/3SR1FJW7BI" Link
JJ --- e/acc: "We have a company in the @OSSCapital portfolio with tens of thousands of GitHub stars, hundreds of contributors, millions of users. JUST launched paid product and now crossing $1M in subscription ARR from zero in 30~ days. Project and company run by a single human (alien?!?!).🤯" Link
JJ --- e/acc: "Continuous, frictionless upgrades. Governance. Security. Team management. Org-wide compliance. Legacy/closed integrations. "Support". Indemnification. Single panes of glass.... Many more. But COSS products != Open Source (projects). Conflating these two is common and an error. https://t.co/bW26T9INke" Link
Matt Mullenweg: "Something excited to announce to the #WCUS crowd, in both planning for and thinking in the very long term, we're now going to offer the ability to sign up for a 100-year domain and hosting plan, for $38k: https://t.co/dOHp2J1Bb1" Link
Kelsey Hightower: "The Terraform situation, and the community's response, demonstrates the power of open source. The original maintainers made a decision a subset of their community doesn't agree with, they forked the project, and will continue building in a foundation. https://t.co/KcEfXOZG0R" Link
Steven Tey: "I'm curating a list of vector databases: ◆ Pinecone (@pinecone) ◆ Weaviate (@weaviate_io) ◆ Chroma (@trychroma) ◆ Milvus (@milvusio, OSS) ◆ Supabase (@supabase) ◆ Qdrant (@qdrant_engine, OSS) ◆ Vespa (@vespaengine) ◆ @vercel Postgres (via pgvector) What did I miss? 👀 https://t.co/pBJjF17K7K" Link
Flagsmith: "🎧 Here are the top 5 most listened-to episodes (so far): 1. @dhh (@rails) 2. Sebastián Ramírez Montaño (@FastAPI) 3. @mitchellh (@HashiCorp ) 4. @torkelo (@grafana) 5. @ccheever (@expo) Thank you all for sharing your thoughts!!" Link
OpenBB 🦋: "1/ Exciting news from the world of Quantitative Finance! Meet @jasonstrimpel, our newest OpenBB Champion. His passion for teaching and simplifying complex concepts aligns perfectly with OpenBB's mission to democratize financial data access. A 🧵 https://t.co/benZQ0kgTH https://t.co/skNnQzWXrF" Link
JJ --- e/acc: "Life advice from C++ creator Bjarne https://t.co/FlrGEkSGx8" Link
Guillermo Rauch: "We're redesigning our website. Instead of reading the tea leaves, I invited our customers to leave comments directly on the @vercel Preview. Eye-opening. Highly recommend getting out of our own head and into the arena as early as possible. https://t.co/GkWlynNWLS" Link
Garry Tan 陈嘉兴 --- e/acc: "Open source models should be celebrated far more than closed models https://t.co/g2b2DoOKMr" Link
Garry Tan 陈嘉兴 --- e/acc: "What is the explanation for people naming things dishonestly these days? Open means everyone has it, like open source, yet we don't seem to hold people accountable to that anymore. Grants are supposed to be free yet now there are grants that are actually investments. When... https://t.co/IKQyUy7SPj" Link
JJ --- e/acc: "New light being shined on Marketing Automation with the upcoming @klaviyo IPO. Aside from Listmonk and Mautic --- who's building the best open source here?" Link
Heather Meeker: "I am thrilled to be doing a TED Talk at the upcoming TED AI event in San Francisco in October. https://t.co/SZuuxmDbOV" Link
💸 COSS Liquidity (M&A + IPOs)
- JJ --- e/acc: "Never thought I'd hear @chamath so lucidly articulate why open source chips (@risc_v is pronounced "risk-five", btw 😉) are poised to eat at NVIDIA's margins and the market has yet to price that in. @theallinpod E143 https://t.co/ZpmBX09HCO https://t.co/ShMXJOAfvU" Link
- JJ --- e/acc: "$2.3 billion COSS take-private finally happening. Congrats to @ForgeRock merging with @pingidentity --- shrewd deal by @thomabravo. $240M~ ARR growing by 25% hence the low multiple. https://t.co/VVrFfGx0Im" Link
🛠️ COSS Jobs
- 3,582 jobs and 293 companies hiring! Link
- clem 🤗: "My priority for the next month? Hiring, hiring, hiring with a big focus on diversity! If you come from an unusual background, from under-represented groups in AI and are excited by open & collaborative AI @huggingface, my DMs are open, just hit me up!" Link
📊 $COSS - Public Markets
- $COSS markets up 1.97% last week
- Latest $COSS markets snapshot below as of market close last Friday courtesy of Koyfin.
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