GitLab has raised $268 million in new funding in a round valuing the startup at $2.75 billion, more than double its last valuation, according to Bloomberg. The company has raised a total $426 million so far, including the new round.
GitLab helps companies “get faster from ‘I want to make this,’ to getting the software out the door,“ CEO Sid Sijbrandij said in an interview. “All the companies are becoming software companies, every change you want to make influences software, and the faster you can make that change, the easier it is.“
The new funds will be used to add monitoring and security to GitLab’s offering, and to increase the company’s staff to more than 1,000 employees this year from 400. GitLab is able to add workers at a rapid rate, since it has an all-remote workforce, Sijbrandij said.
The investment also comes in preparation for a potential public offering next year. GitLab’s largest competitor, GitHub, was acquired by Microsoft in a stock deal announced in June 2018 worth $7.5 billion. But GitLab will instead aim for the public markets, targeting an IPO or direct listing next fall, Sijbrandij said.
“We’d rather stay independent as a company,“ he said. GitLab has set a tentative date of Nov. 18, 2020, but the CEO added that the startup will watch market conditions and that nothing is guaranteed.
When the largest amusement park in Germany, Europa-Park, began constructing its new Croatia area, it found inspiration in Rimac hypercars and technology for its new rollercoaster – the Voltron Nevera Powered by Rimac.
Following the end of the public delisting acquisition offer for Telefónica Deutschland, Telefónica holds approximately 96.85% of the shares in its German subsidiary.
Infobip Shift Miami, the American version of the Croatian developer conference, this week brought together a diverse technology-sector audience on the shores of Florida.
