Here's the two-hundred 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 $780.5M in funding announcements for Odoo, Kong, Spectro Cloud, TwentyCRM, and the GitHub Secure Open Source Fund, as well as Automattic's acquisition of Harper, and more IPO and market news!
Enjoy!
💰 COSS Funding: $780.5M
- Odoo, the open-source ERP and CRM, announced a €500 million secondary transaction at a €5B valuation, led by CapitalG, Sequoia, Mubadala & BlackRock. Link
- Kong, the API gateway, announced their $175M Series E at a $2B valuation led by Tiger Global and Balderton. Link
- Spectro Cloud, a Kubernetes management service for enterprises, announced a $75M Series C led by Goldman Sachs Alternatives. Link
- TwentyCRM, a challenger to SalesForce, announced their $5M Seed led by investors including Mathilde Collin, Y Combinator, Runa Capital, and Automattic. Link
- GitHub: "Announcing GitHub Secure Open Source Fund, a new way to help secure the open source ecosystem for everyone, with $1.25MM committed to fund and help secure 125 projects. Applications are open now for current maintainers of open source projects. github.blog/news-insights/..." Link
📚 COSS Content
JJ: "Livestream of @planepowers launching major new features." Link
Plane: "Day 5 of Verse, our final day this crazy week, is about getting Plane in your pocket. And on your desktop devices." Link
Peer Richelsen --- oss/acc: "almost halved churn rate in the past 3 months from 10% down to 6.5% so proud of this team" Link
ResearchHub: "#SciCon2024 is almost here. We're going live on November 20th at 9 AM Pacific Time. The full agenda is now available; get all the details and plan your experience: scicon.researchhub.foundation" Link
Vamsi Kurama: "Today marks the second anniversary of the @planepowers GitHub repository. 2 years of Open source 35+ Releases 100+ Contributors 5000 Commits 30,000 Stars 50,000 Community 500,00 Docker pulls 1,000,000 Users github.com/makeplane/plane" Link
Matt Mullenweg: "WordPress Founder Matt Mullenweg Is 'More Energized' Than Ever Amid WP Engine Battle writes @allypengelly" Link
Automattic: "Missed @nerdearla's fireside chat with @photomatt? No worries, we got you. youtube.com/watch?v=f15Xn2..." Link
JJ: "I'm absolutely awestruck at the rate of growth at @planepowers --- 99% sure they are the fastest growing open source startup in history on shipping and ARR. Customer obsession unlocks it all." Link
Matt Mullenweg: "Gutenberg will be even bigger than WordPress. :) This just made my day." Link
JJ: "Bittensor is very easy to understand if you understand Bitcoin ... which it was inspired by. Nothing happens "on chain".. instead of a single monolithic token reward mechanism (compute a certain high entropy threshold of SHA 256) hard-wired into the consensus mechanism..." Link
W4 Games: "Getting a license to develop for consoles like #Nintendo, #Xbox or #PlayStation can be a major milestone for any indie dev. But we know the process isn't always straightforward. Are you licensed to develop? We'd love to hear about your experience #GODOT #Godotengine" Link
Openτensor Foundaτion: "What are Subnets? Bittensor is the Olympic Games of intelligence Bittensor Sub-Networks (subnets) solve big problems in AI: - Decentralized training - Fine-tuning models - Fraud detection - Protein folding & more (+ it's open source) Subnet owners design games (challenges) to solve specific problems. Miners are the athletes of Bittensor who do the work, Validators are the judges who score the winners according to the subnet's rules (Incentive mechanism) The best contributors are rewarded in $TAO, creating measurable output of digital goods. Bittensor subnets transform human ingenuity into measurable, decentralized digital commodities, redefining the economy of intelligence." Link
JJ: "Come compete in the Olympics of intelligence." Link
Matt Mullenweg: "Excited to do local-first, private grammar checking with the acquisition by @automattic of Harper: ma.tt/2024/11/welcom... Lots to launch here over the coming months. :) A lot of other projects will be able to leverage this technology as well, and it's Apache2 licensed." Link
Will Squires: "Some reflections from this week's @DCGco event, a thread ." Link
bluesky: ""The state of most social platforms right now is that users are locked in and developers are locked out. We want to build something that makes sure users have the freedom to move and developers have the freedom to build." --- Jay Graber, CEO bsky.app/download" Link
W4 Games: "When it comes to consoles, #Nintendo, #Xbox, and #PlayStation won't knock at your door. You have to apply yourself. It can feel like a hurdle, but it's the first step toward expanding your game's reach. Need a hand? We've got them all in one place: linktr.ee/W4Console #GODOT" Link
JJ: "India's stock market (NSE / BSE) will very likely grow from $5 trillion today to $50 trillion + over the next decade ~... Guess the size of America's stock market today? $50T. So few people truly appreciate the gigantic meteoric ascent of India on the global stage." Link
JJ: "The largest Bitcoin miner, holder and evangelist in America is going all-in Bittensor ($TAO). Pay attention folks! Congrats to my friend @BarrySilbert." Link
ResearchHub: "Big news from #SciCon2024: ResearchHub is launching its own journal. It will offer: - Enhanced visibility for your papers. - Immediate preprint publication. - Rapid (21-day) turnaround. - Paid peer review. Submit your manuscript for publication today." Link
//Kalos: "What is @parallel up to these days... - We built and continue to release new expansions and improvements to @ParallelTCG card game. - We are building @ParallelColony the worlds first AI simulation game (Q1 release) - We have a third person shooter in the works with a collaborating studio! - @AIWayfinder an AI trading and building multi agent system that supports 9 networks including @base @solana @ethereum @binance @arbitrum and more." Link
Umbrel: "The power to switch. The freedom to control. Introducing umbrelOS 1.3. Swappable apps: Effortlessly switch between Bitcoin Node, Bitcoin Knots & Libre Relay, or Electrs, Fulcrum & ElectrumX. New features: Cloudflare DNS and Factory Reset. Faster & smoother: Enjoy a snappier UI, and essential bug fixes. Public beta out now!" Link
Richie - oss/acc: "open source is beautiful. before I went to bed last night, I posted a bounty for adding dark mode to @Cap Desktop. woke up this morning and a PR has already been submitted with minimal tweaks required" Link
💸 COSS Liquidity (M&A + IPOs)
- Automattic: "We couldn't be more excited to share our acquisition of Harper, the lightning-fast grammar checker for developers, and a warm welcome to the mastermind behind it, Elijah Potter. So many exciting things to come! Read all about it here: automattic.com/2024/11/21/aut...." Link
- Jamin Ball: "Congrats to @ServiceTitan, an operating system that powers the trades, on their S-1 filing! - $685M LTM Revenue (+26%) - 24% YoY growth last Q - 64% gross margin - (25%) Op Margin - (2%) FCF Margin - >110% net retention - 12 months GM adj CAC Payback Full article recap below" Link
- JJ: "IPO floodgates cracking open......" Link
- Jamin Ball: "Really good data here - VC is all about power law, regardless of stage" Link
- logan bartlett: "MicroStrategy has now passed it's dotcom bubble stock price and is a $82b business." Link
🛠️ COSS Jobs
- 4,892 jobs and 328 companies hiring! Link
📊 $COSS - Public Markets
$COSS markets up 6.50% last week
- Latest $COSS markets as of last Friday at market close, courtesy of Koyfin
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