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COSS Weekly #146

Here's the one-hundred forty-sixth 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 $44M in funding announcements from Rockset, Git Round --- the first COSS accelerator, Fig's acquisition by AWS, major updates from Hoppscotch, and more!


💰 COSS Funding: $44M

  • Rockset, an AI search and analytics company, announced $44M in funding led by ICON Ventures. Link
  • Git Round: "Today we unveil the first COSS accelerator program:\ @git_round! Have you done your git round? Apply today: Our first cohort of 5 select startups will be led by @JosephJacks_@peer_rich\ Powered by @Formbricks@Documenso + @CalcomLink
  • Marc Seitz: "Great initiative by @OSSCapital to make it easy for open-source projects to get off the ground commercially.  No-brainer to apply if you are building a commercial open-source project " Link
  • JJ --- e/acc: "Only 24 days left to apply to @git_round --- the first COSS accelerator. We pay you $25K to focus your time and energy for 90 intense days of 1:1 mentorship from the best in COSS. No hiring, pitching or selling. Focus on building! 👀 Apply here 👉🏼 🌱
  • JJ --- e/acc: "COSS startups raised $27.5B in VC since January 2020 across 670+ disclosed financings. > 1/3rd are Seed, but represent only $1.5B (6% of total capital raised). Average seed round size of $5-6M across 250~ rounds. Removing MegaSeeds skews brings average down to $3-4M....

📚 COSS Content

  • JJ --- e/acc: "LFG 🌱🥳" Link

  • Marc Seitz: "New updates coming to @papermarkio ◆ 5 PRs in the pipe ◆ Merging 1 PR per day ◆ Special 6th feature in the works (can you spot the branch)" Link

  • Emily Omier: "Open-core can work, but it's not gonna be easy to navigate this line of what open-core means." --- Tim Chen (@tnachen) The Business of Open Source:" Link

  • Documenso: "This week, we're celebrating π stars on GitHub (3,141). Support us on this journey to building an open-source alternative to DocuSign, leave us a Star:

  • Vamsi Kurama: "Open source is key to propelling humanity and the universe into the future. @JosephJacks_vision and philosophy for open-source technology are truly magnificent. Inviting all early-stage COSS companies to apply to\
    @git_round accelerator program." Link

  • JJ --- e/acc: "Meet @openbb_finance in NYC next month September 18-21st ! For quants, hedge funds, financial analysts, institutional equity investors --- DM for more info." Link

  • JJ --- e/acc: "Confluent is the open source alternative to TIBCO. Clickhouse is the open source alternative to Snowflake. Elastic is the open source alternative to Endeca. But none marketed themselves as such. They elevated and out-innovated. Lesson: When they go low, go high." Link

  • Marc Seitz: "New Update on @papermarkio 📄✨ ◆ list individual visitors per document 👥 ◆ detailed page-by-page analytics per visit 📈 ◆ edit link settings (password, expiration, optional email) 🔒

  • Vamsi Kurama: "Introducing Arabic, Japanese, French, German, Spanish, and Portuguese as part of the first phase of @planepowers internationalisation. Launching late September to community. We added Arabic to the list later because many Middle Eastern countries are excited about @planepowers." Link

  • Open Source Startup Podcast🎙: "NEW Open Source Startup Podcast featuring AI code companion @codeiumdev Founder @_mohansolo🎙️ ❔How do they compete with a behemoth like CoPilot ❔How did they build a community of 30K ❔How does their infrastructure enable massive scale Find out👇

  • Matt Bornstein: "[New program] a16z Open Source AI Grants Hackers & independent devs are massively important to the AI ecosystem. We're starting a grant funding program so they can continue their work without pressure to generate financial returns.

  • Joey DeBruin: "Are companies built on open tech the next big gold rush? How should builders think about creating big businesses on open source foundations? Distilling my main takeaways from today's conversation with three of the founders most equipped to answer that question --- @JosephJacks...

  • Marc Seitz: "The open-source ecosystem is growing exponentially 🚀 What is still missing? What should be supported / created / documented?" Link

  • Hoppscotch: "Excitement is an understatement as we eagerly anticipate the launch of Hoppscotch v2023.8.0, follow us for updates!

  • Elad Gil: "🔥 @rauchg CEO @vercel on @NoPriorsPod 🔥 Topics * Vercel & AI * AI Frameworks, Observability, * UI & UX in the programmatic multi-agent bot world * AI & personalization Spotify Youtube

  • JJ --- e/acc: "Reminder: Open Weights AI > Open Source AI.

  • JJ --- e/acc: "There are basically zero startups that have initially been built around a programming language as their core offering that have succeeded ... except Microsoft (BASIC). So many never innovate beyond the language and fail to realize that PLs are not something you can commercialize." Link

  • Hoppscotch: "Hoppscotch Self-Host is LIVE on Product Hunt! What is Hoppscotch Self-Host? It's your portal to everything Hoppscotch. SAML-based SSO, on-prem deployment, audit logs, and more. Let us know what you think:

  • Documenso: "Remember DocuSign? It's a proprietary closed-source alternative to

  • Liyas Thomas: "Today we're publicly launching our Enterprise product at @hoppscotch_io, along with our recent improvements made to the Hoppscotch Cloud and Community editions. Here's how we got here and where we're going 👇

  • JJ --- e/acc: "🏙️📈 @bluesky

  • JJ --- e/acc: "One of our founders (pre GA) was contacted by a well known 20M+ user service asking to integrate in a first class non-competitive way. There are many paths to solving for distribution. 🤔" Link

  • Hoppscotch: "| ̄ ̄ ̄ ̄ ̄ ̄ ̄ ̄ ̄ ̄ ̄ ̄ ̄| | We Love Open-Source | |_____________| \ (-◡-) / \ / ------ | | |_ |_

  • JJ --- e/acc: "LLaMa is for Meta what Kubernetes is for Google." Link

  • JJ --- e/acc: "Where there is information asymmetry, there is information inefficiency. Code is a computational form of information. Closed source is highly info inefficient by virtue of being info asymmetric. Open source is the opposite --- info symmetric and thus highly info efficient." Link

  • JJ --- e/acc: "🎯 What will replace the Transformer architecture? Some interesting buzz around these Liquid Neural Nets...

  • Nathaniel Simard: "📚 Introducing The Burn Book 📚 Welcome to The Burn Book! 🔥 Whether you're a seasoned deep learning pro or just getting started, this thread will give you a sneak peek into what's in store for you with Burn. Let's dive in! 👇 Link:

  • Arun Gupta: "Want to learn about different #opensource business models? Catch me in a conversation with @JosephJacks_ at Starts in one hour, 9am PT." Link

  • JJ --- e/acc: "There's a fire starting in deep learning and Burn is igniting it ✨ Awesome new book on the exciting Burn project ❤️‍🔥🦀

  • OSS Capital: "The alternative to "Open" is called Open Source." Link


  • JJ --- e/acc: "There is an extremely uncomfortable reality across the ENTIRE software stack (from consumer/enterprise apps to compilers)... open source is eating software much faster than (closed) software is materializing. As a consequence, we will see open alternatives to every single product...

  • JJ --- e/acc: "I'm very impressed at how well executed @metabase's pricing strategy is ... *Not an investor but tried hard to be one in 2018~. Well done @sameer_alsakran

  • JJ --- e/acc: "Really enjoyed this chat with @ParallelTCG founder @templecrash and @calcom founder @peer_rich --- some previously unsaid nuggets dropped here ...

  • JJ --- e/acc: "Burn is firing up deep learning...

  • JJ --- e/acc: "Lesson: Open source is orthogonal to Governance. The former is a license model, the latter is a collaboration approach. Both, however, are explicit decisions.

  • Plane: "🔥 Big moves at Plane in August! We've been busy: 🚀 Unveiling Plane Deploy for seamless user feedback ⬇️ Rolling out Project Exports for data flexibility ✏️ Upgrading the Issue Detail Editor to @tiptap_editor More details? Dig in 👇

  • Liyas Thomas: "This week, we introduced Hoppscotch Self-Host Enterprise Edition 🔮✨ ➡️ SAML-based Single Sign-On ➡️ Team Management Tools ➡️ On-Prem Deployment ➡️ Admin Dashboard ➡️ Team Insights ➡️ Audit Logs The one-stop solution to own control over your data, APIs, and privacy.

  • Dalton Caldwell: "Some of the open core companies I worked with in the @ycombinator S23 batch:

  • Tauri: "There's one question the Tauri Working Group gets asked time and time again. We refer to it as "Mobile when?!?" and today we outline the path ahead to get to Tauri 2.0 and answer that question.

  • JJ --- e/acc: "Open source is transforming gaming/graphics faster than most realize. It has been awesome to witness the rise of @GodotEngine (launched in 2014) led by the spectacularly talented team @W4Games and a hugely vibrant community. 🤖 📈 PREDICTION: Godot will overtake @Unity (founded...

  • Vendure: "Open source is eating the world. @calcom @documenso @supabase @godotengine @gitlab @typesense @posthog and more every day! Why?

💸 COSS Liquidity (M&A + IPOs)

  • JJ --- e/acc: "First Tauri-powered acquisition --- AWS sees the future and the future is @TauriAppsLink
  • Brendan Falk: "Incredibly excited to share that @fig is joining AWS!  With hundreds of thousands of users, 22k GitHub stars, 13k Discord members, 400 open source contributors, and 5 products, I am so proud of what we've accomplished. Can't wait for what's next!" Link
  • Jamin Ball: "MongoDB quarter: - $424M rev (+40% YoY) vs $390M consensus (9% beat) - $402M next Q guidance vs $382M consensus (5% raise) - Raised full year guide 5% - $267M Atlas rev (+38% YoY) - 13 months GM adj. CAC payback - 75% GM - (6%) FCF Margin $MDB" Link
  • Jamin Ball: "HashiCorp quarter: - $143M rev (+26% YoY) vs $138M consensus (4% beat) - $143M next Q guidance vs $142M consensus (1% raise) - Raised full year guide by 1% - 124% net retention - 62 months GM adj. CAC payback - 80% GM - (26%) FCF Margin $HCP" Link

🛠️ COSS Jobs

  • 3,446 jobs and 293 companies hiring! Link
  • Formbricks: "We're hiring! ❤️‍🔥 Go to formbricks .com/careers (link in bio)

📊 $COSS - Public Markets

  • $COSS markets down 0.92% last week
  • Latest $COSS markets snapshot below as of market close last Friday courtesy of Koyfin.

Koyfin market data

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