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Joseph (JJ) Jacks for COSS Community

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COSS Weekly Issue #21

COSS Weekly, Issue #21: March 21th, 2021

Welcome to the twenty-first issue of COSS Weekly, the global Commercial Open-Source ecosystem newsletter brought to you every week by Joseph Jacks and the team at COSS.Community, OSS Capital and Open Core Summit.

Each week, we neatly summarize the latest happenings in COSS, often including objective commentary across primarily the following areas: Funding, Content, Liquidity, Data, Markets.

💰 COSS Funding

TerminusDB, maker of an open-source collaboration platform for working with large and complex data, announces $4.3M seed led by Volta Ventures. Link

LottieFiles, a platform for the Lottie animation file format, announces $9M Series A led by M12 (Microsoft's venture fund). Link

Docker announces $23M Series B led by Tribe Capital. Link

Rumble, provider of a network/asset discovery platform to reduce attack surfaces and respond to incidents, announces $5M funding round led by Decibel Partners. Link

OctoML, maker of a machine-learning acceleration platform built on Apache TVM, announces $28M Series B led by Addition. Link

Oso, maker of a "batteries-included "authorization tool, announces $8.2M Series A led by Sequoia. Link

Saleor, maker of an open-source, graphQL headless e-commerce platform, announces $2.5M seed led by Cherry Ventures. Link

📚 COSS Content

Great interview with a great human: Tobi Lutke, creator of Shopify. Includes a key mention of Tobi's open source roots with payment gateway API abstraction "Active Merchant," still maintained today. Link

Jason Lemkin: MongoDB is perhaps the great "commercial" open source success story of all. It's now at $700M ARR, growing almost 40% a year! Stunning! 55m downloaded its core software for >free< last year. 5 interesting learnings (thread continues). Link

How HashiCorp Works: A website dedicated to making our implicit practices explicit. Link

What did Sun's Open Source Program Office (OSPO) do? (A micro-history) by Simon Phipps. Link

Wikipedia introduces the Wikimedia Enterprise API, an opt-in product for commercial entities. (See: Wikimedia Is Finally Asking Big Tech to Pay Up by Noam Cohen)  Link

Docker CEO talks pivot progress, product-led strategy, and coders as 'kingmakers' by Chris O'Brien. Link

JJ: Happy St. Patrick's Day to all, in particular to my COSS friends in Ireland: NearForm, Roadie, TerminusDB, ToganLabs. Link

Software Company Ontology by JJ. Link

Thinkst Canary: We bootstrapped to $11 million in ARR. This is pretty unusual, so we wrote down some thoughts on it.  Link

Harness embraces open source and pledges to support community 'like an enterprise customer' by Paul Sawers. Link

JJ: Latest public COSS category performance as of 3/18/21. This basket has increased in value by 1400%+ over the last year and is worth > $55B in aggregate. Link

What's up with these new not-open source licenses? by Justin Colannino Link

Sia: We're updating our source code license! Skynet and its third-party devs are united in our commitment to writing software that empowers freedom. Now, this new license enables developers to sustainably fund that development. See the Skynet License. Link

The OSS Startup Podcast Episode 3: Creating one of the world's most popular open source databases, MongoDB, with Max Schireson (early CEO of MongoDB). Link

Entreprenerd: Did you know that free and open source developers in Belgium are considered being self-employed by default? The consequence is that FOSS developers have to pay social security contributions for the work they do on their project, even if they don't make any money. Link

Inside Open Source #2 by David Meiborg. Link

The General Data Protection Regulation and Open Source Software Communities - How GDPR Affects Open Source Communities by Amye Scavarda Perrin. Link

GitLab floats a new company over the Great Firewall of China by Richard Speed. Link

JJ responds to comments from Martin Casado around the "diminishing relevance" of open-source. Link

Jason Warner (CTO of GitHub): I love this...turning into the curve to find their groove for sure. Amazon gonna Amazon & this approach cements their audience/buyer. Perhaps open source companies can approach it similarly with AWS.  Not gonna stop AWS no matter what your license. Instead, play a diff game. Link

💸 COSS Liquidity

Instaclustr, helping run reliable open-source applications at scale, announces acquisition of credativ — expanding ts breadth of open-source infrastructure expertise and geographical footprint. Link


📊 COSS Markets

Ticker Name Market Cap Total Revenues/CAGR (1Y TTM) Total Revenues (LTM) Last Price Total Return (1Y) 1-Day %
FSLY Fastly Inc. $8.12B 46.53% $267.16M 70.80 395.35% 0.67%
CLDR Cloudera Inc. $3.6B 17.53% $854.41M 12.57 137.17% 3.29%
ESTC Elastic N.V. $10.02B 49.18% $510.57M 111.59 152.92% -0.13%
MDB MongoDB Inc. $18.43B 41.5% $542.9M 302.68 186.28% 0.44%
RPD Rapid7 Inc. $4.03B 28.25% $389.98M 76.56 118.81% 5.57%
TLND Talend S.A. $2.08B 16.18% $276.01M 64.20 221.00% -0.09%
QTCOM Qt Group Oyj $2.33B 44.45% $72.54M 87.80 433.74% 5.28%
PRGS Progress Software Corporation $1.94B 6.98% $442.15M 43.86 49.91% 1.83%
FROG JFrog Ltd. $4.67B - $138.9M 50.66 - 4.45%

Data from Koyfin

📈 COSS Data

  • 🌐 YC COSS: For the first time ever in 2020, 15~ COSS startups have gone through YC in a single year representing 30%+ of the total (50~ since 2006). Our YC COSS dataset tracks and provides granular data on the growing but still small COSS YC alumni.
  • đŸĻ COSS PE Funding: This dataset tracks the latest funding events for all stages of COSS companies, mostly in private markets, for 2020-2021+.
  • 📊 COSS Index: The well-known COSSI sheet for the exclusive $100M+ revenue club of COSS companies. New data points and growth happening weekly.
  • 🌩ī¸ AWS COSS: List of COSS services on AWS. Continuously evolving. We plan to offer similar datasets for Azure, GCP, and other major clouds.
  • 📈 COSS IPO: Analysis of every COSS IPO since 1999.

COSS Weekly is brought to you via COSS Community and OSS Capital (the first and only COSS-dedicated early-stage investor platform for COSS founders)

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