🥚🥚🥚 COSS Weekly, Issue #23: April 4th, 2021
Happy Easter Weekend!
Here's the twenty-third issue of COSS Weekly, the global commercial open source (COSS) company ecosystem newsletter, brought to you every week by the team at OSS Capital, creators and maintainers of COSS Community and Open Core Summit.
Each week, we aggregate the latest weekly news in COSS, including commentary across Funding, Content, Liquidity, Data and Markets.
This past week was fairly light given the wrapping of calendar Q1 2021, but we are expecting the rest of April to be full of exciting news all around!
💰 COSS Funding Announcements: $26M~ (last 6 months have averaged $200M+ in weekly announcements!)
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🦕 Deno, company behind the extremely popular Deno runtime for JavaScript and TypeScript, has come out of stealth and announced their $4.9M in seed funding led by Dan Scholnick of Four Rivers Ventures. Link
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💻 Memfault, a startup building modern developer tools for firmware and IoT devices, announced an $8.5M Series A led by Partech Partners. Link
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📱 ZEDEDA, the company behind the EVE IoT edge virtualization engine, announced a $12.5M strategic-partner-led extension to their $16M Series A closed in February 2019, bringing on new strategic investors Rockwell Automation, Juniper Networks and EDF North America Ventures. Link
📚 COSS Content / Media:
- Martin Casado and Peter Levine of a16z hosted their second Infra Show on Clubhouse this week, digging into the "future of OSS in the age of SaaS" with guests Nick Schrock of Elementl, Andrew Shafer of Red Hat and Christian Kleinerman of Snowflake. This was a very fascinating and engaging conversation. The recording has not been published, but we expect much commentary on what was discussed over the coming weeks. Link
- Alessio Fanelli of 645 Ventures put a nice primer deck together on how COSS companies make money! Link
- Spencer Kimball, co-founder/CEO of Cockroach Labs, joined the Changelog podcast in Founder Talk episode #75. Link
- Jeff Luszcz joined the Open Teams podcast to discuss open source compliance and security. Link
💸 COSS Liquidity / IPOs / M&A:
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Kaltura was scheduled to trade publicly last week. Unfortunately, the listing was met with insufficient market demand, resulting in a delayed IPO. Link
📊 $COSS - Public Markets:
- One added 😀: We now include Progress Software as one of the publicly traded COSS companies due to their acquisition of Chef Software last year, along with other open source assets. Link
- One Removed 😭: Talend will be transitioning to a private company and removed from public market trading later this month. April 10th, this next week, marks the end of the 30-day "go shop" period clause in their $2.4B acquisition by PE firm Thoma Bravo. Link
- This brings the total # of COSS companies to 9! Based on the flurry of confidential and expected IPOs (via many paths), we are expecting this number to increased to at least a dozen by years end.
- The total value of all public COSS companies is $54.4B, generating $3.6B in annual revenue, growing by 42% compounding annually with an equally-weighted annual return of 170%~!
- Last week, $COSS grew by 4.6%. 📈
- Data below courtesy of Koyfin as of market close on April 2nd, 2021...
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