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Joseph (JJ) Jacks for COSS Community

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COSS Weekly #94

Here's the ninety-fourth 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 $67M in funding announcements from Zilliz and Oven, news from OpenBB and, a podcast with JJ, and the upcoming COSS Funding Database report on Monday!!

COSS Funding: $67M

  • Zilliz, makers of the Milvus vector database, announced their $60M Series B extension led by Propserity7 Ventures. Link
  • Oven, the company behind the Bun javascript runtime, announced their $7M Seed led by Kleiner Perkins. Link
  • OpenBB 🦋: "We are pleased to announce that @CaretakerBob (Founder and former CEO of @RedHat ) and Larry Augustin (currently on the advisory team of OpenBB) have invested in the third tranche of our Series Seed preferred stock round. Here is a quote from Bob about what OpenBB stands for 👇🏼

📚 COSS Content

  • Juan Linietsky: "Have you ever heard: "FOSS Project X is doing great, but can't compete with the monetary resources commercial company Y is pouring into their commercial product" Even if it sounds like common sense, this is a big fallacy. Why is this? Will try to explain in 🧵.

  • Starburst: "We're thrilled to announce the continued #momentum Starburst has achieved in the past year, including a 3x YoY ARR growth! 🚀 We expanded our customer base, grew our partner community, and innovated our product offerings. Read more here: #BigData #startup" Link

  • Rocket.Chat: "News, news, news --- that's what @RocketChat 5.0 is all about! In our latest version we brought to you our new #Matrix Federation, which makes communicating externally as easy and secure as communicating internally. Learn more on our #blog 👉

  • Joseph Jacks (JJ) 🇺🇦: " 👇🏼💜

  • AppFlowy: "The first ever batch of AppFlowy's Contributor T-Shirt is out. Calling out AppFlowy's contributors to fill out this form to claim your swag 👕 If you wonder how to contribute, start here 📍

  • OSS Insight: "RustDesk is absolutly a game changer. Open sourced in September 2020, less than a year later, @rustdesk became the most popular #OpenSource remote desktop and remained so until now." Link

  • OSS Insight: "📈 #OpenSource remote desktop tool trending on GitHub: @rustdesk @goteleport @freerdp @mRemoteNG Quasar xrdp TigerVNC rtty @ApacheGuacamole @RemminaProject p2p by @mirodev85 rdesktop #OpenSource #remotedesktop #remotesupport #remotework

  • Joseph Jacks (JJ) 🇺🇦: "Great post by @amanda_robs --- one of the major implications of this market downturn is the INCREASE of open source demand. 📉📈

  • Maxim Wheatley: "Save the Date! This Thursday I'll be talking with @JosephJacks_ one of the worlds leading #opensourxe thinkers and investors about "sustainability" and what it means in OSS.

  • Joseph Jacks (JJ) 🇺🇦: "Well done @F5 on your commitment to open source! @nginx powers > 55% of websites on the internet. ⚡️

  • Joseph Jacks (JJ) 🇺🇦: "IMO: GitHub stars stop mattering (in COSS context: users, revenue, etc) around 10-15K~. Growth up to that point over short timeframes offers some insight, but not much else. There's plenty of COSS startups > $10-20M+ in ARR, millions of users..who tapped out around 20K stars. 👀" Link

  • OSS Insight: "Hoppscotch, another story of a post-emergence becoming the most popular project. The @hoppscotch_io community is very active. There are over 100 PRs monthly, most of which are resolved within a day. 👀 👉 Click to find more insights about Hoppscotch:

  • tobi lutke: "Huge accomplishment to get ethereum to be ready for this:

  • Joseph Jacks (JJ) 🇺🇦: ""Software is the biggest deflationary force in an inflationary economy." --- @spoonen 💯" Link

  • Peer Richelsen 🗓🍊: "super excited to be sharing that we published our company handbook: it's a very early version as we're a young company but planning to add many more sections soon! 🎉

  • Joseph Jacks (JJ) 🇺🇦: "🔥🔥🔥 Dropping full report on Monday... First-of-its-kind "COSS Funding Database" from Jan 2020 to Aug 2022: 👀 All stages (Seed to Pre-IPO) All geos (US, Europe, Asia..) All sectors (Consumer, Apps, Infra, DevTools..) 500+ Rounds 360+ COSS startups 340+ projects 230+ Lead VCs

  • KΞVIN XU (kevinxu.eth): "While this article is mostly about how awesome Figma is (and well-deserved praise!), I'm glad to see @penpotapp, an open source alternative to Figma, getting mentioned too! Almost 20% of Penpot users are coming from Figma.

  • OpenBB 🦋: "From open source contributor to OpenBB employee. #MeetOpenBB

  • Joseph Jacks (JJ) 🇺🇦: "Ending the week with COSS dominating top 3 of the highest Cloud EV/NTM valuation multiples 📊✨

  • Joseph Jacks (JJ) 🇺🇦: "Imagine if we lived in a world without Nutrition Facts on the food products we consume everyday. 😬 That's how the software industry works today, for consumers / customers. 😢 That's why open source needs to eat the core of software products ... as fast as possible. 🏎 💨" Link

  • Open Source Startup Podcast🎙: "⚡️E48 of the Open Source Startup Podcast is LIVE⚡️ @amanda_robs & @tnachen talk with @pathaksaurav, Founder & CPO of open source e-commerce platform @BagistoShop💪 Check it out👇

  • Joseph Jacks (JJ) 🇺🇦: "Today, all Physical corp. assets are considered Tangible, while all Digital assets (software, IP) is considered Intangible. The S&P 500 is now 90%+ Intangible = $30T in value. 🧐 Over time, I believe: Open Source products (COSS) = Intangible Closed Source products = Tangible

💸 COSS Liquidity (M&A + IPOs)

  • Joseph Jacks (JJ) 🇺🇦: "Smart acquisition by @OpenText buying @MicroFocus (the COSS co behind COBOL 😅)... --- 98.3% premium ($6B purchase price!) --- Adding $2.9B in annual revenue and $1B~ EBIDTA --- 11K employees --- Emphasis on transformation given declining revenue 👇🏼 📉

🛠️ COSS Jobs

📊 $COSS - Public Markets

  • $COSS markets down 2.05% last week

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

Koyfin market data

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