Here's the forty-seventh issue of COSS Weekly, the global commercial open source (COSS) company category newsletter, brought to you every Sunday afternoon (Pacific Time) 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, Liquidity and $COSS (Public Markets).
This last week saw $58M in funding for StreamNative and Tyk, JFrog's acquisition of Upswift, ForgeRock's IPO, and an S-1 filing from GitLab!
Join the upcoming Open Source Data Stack conference, Sep 28 - 30, all online and free to attend. The first conference focused on building the modern stack with open source data solutions. It will have concrete use cases throughout the data pipeline from leading open source projects. Link
Mitchell Hashimoto: "Generally speaking, if a startup is acquired by a private equity firm, abandon ship. I imagine there are "good" PE firms out there (maybe?) but the vast majority are driven by profit above literally all else so its safe to just assume ill intent. (Re: Travis security today)" Link
The Monsters are Coming. Quick reads on Snyk, Databricks, MongoDB, Confluent. from OSS Newsletter. Link
Community Is The Key To Investor Funding For Open-Source Startups*by Bill Mann.* Link
Mitchell Hashimoto: "I found my Slack message I sent in a HashiCorp channel two years ago when Travis announced their acquisition. I hoped for the best, but it looks like almost all of this came true. But you don't have to be Nostradamus to guess that a die with 6 on 5 sides will prob roll a 6." Link
Ed Targett: "Great to see @streamnativeio (the guys behind Apache Pulsar) raise $23m in their Series A today. We're making them our 6th "one to watch". https://thestack.technology/streamnative-apache-pulsar-turnkey-enterprise/ #pulsar #apachepulsar #kubernetes #cloudnative #startups #fundingnews" Link
JJ: "COSS as a category has officially raised > $10B in VC funding to-date in 2021. By a very large margin, this is unprecedented! We will cover all the latest data points and more at the THIRD annual @OpenCoreSummit 2021 this December!" Link
JJ: "ALL community-driven startups (COSS, in particular) should have THREE "allocations" on their cap tables: Angels (5%~ of raise), Standard ESOP (15%~), Standard, Stakeholder Allocation (1-3% of a given raise), NEW. What's a "Stakeholder" Allocation? ... " Link
Grafana: "The API that powers Grafana Cloud gets 3,288,092,357.417505 requests per week." Link
David Wells: "This is an interesting idea... Encode files into a single image https://github.com/EtherDream/web2img. Turn your source code into NFTs Consider the open source funding problem solved" Link
JJ: "open source NFT marketplaces FTW." Link
How GitHub COO Erica Brescia runs the coding gold mines by Tom Krazit. Link
JFrog acquires Upswift, bridging the gap between DevOps and IoT. Link
JJ: "Upcoming COSS IPO this week: @ForgeRock. Anticipated $1.8B ~ valuation - Founded in 2010 - $100M+ in revenue - Based on several key open source (CDDL) identity/access tools: OpenID, OpenLDAP, OpenIDM ++ - These tools were forked from Sun after the Oracle acquisition." Link
Chetan Puttangunta: "Great to see GitLab at $233M revenue run-rate filing to be a public company alongside other large independent public open-source companies like MongoDB, Elastic, Confluent, and JFrog. Just a few years ago, Red Hat was the only public independent open source software company." Link
Jamin Ball: "Congrats to @gitlab on their S-1 filing! A modern DevOps platform $GTLB - $196M LTM Revenue (+74%) - 69% last Q YoY growth - 88% gross margin - (106%) Op Margin - (31%) FCF Margin - 152% DBNR - 29 months GM adj CAC Payback - $40B TAM." Link
$COSS markets up 0.93% last week
Latest $COSS markets snapshot below as of market close last Friday courtesy of Koyfin.
This issue of COSS Weekly is brought to you by Mayfield Fund