![]() “That’s been a great accelerant of our growth,” Sijbrandij says.Īlong the way, Sijbrandij also became known as one of remote work’s leading evangelists, advocating a no-hybrid, radically transparent office culture he says is fairer and more productive. But customers would find the vulnerabilities faster within GitLab buying everything from one vendor was simpler enough that they trusted GitLab to catch up over time. The tool wasn’t as good as others yet, GitLab heard back. “A couple of years ago when we introduced security, we saw a lot of revenue coming from it and we interviewed those people, ‘why did you buy this?”” Sijbrandij says. That’s meant GitLab has competed with a variety of offerings from other companies, including, unsurprisingly from the name, Microsoft subsidiary GitHub, but also infrastructure players and security specialists. ![]() GitLab (the company) would sell subscriptions to software tools to help manage projects built on that tech, charging for what became a suite of 10 distinct tools for different stages in an app’s lifecycle. Zaporozhets joined a year later as cofounder and CTO (Sizov followed in 2014). The company was the first-ever on Nasdaq to livestream its entire IPO day, with about 18,000 people stopping by over the course of the broadcast, it says.Ī former submarine company employee and web project manager for the Dutch Ministry of Justice, Sijbrandij launched GitLab in 2012 as a business built on top of an open source project created by Dmitriy Zaporozhets and Valery Sizov. GitLab’s spent aggressively on sales and marketing in recent quarters relative to its revenue, and Sijbrandij noted repeatedly that being public would help raise GitLab’s awareness and profile with potential customers, partners and investors. Perhaps an even bigger factor for GitLab: as a DevOps business, the company and its leader wanted as much exposure as they could get. I think there’s good reasons for each … we’re really happy with the route, and happy with the investors we’ve been able to attract.” So I encourage everyone to do their due diligence and talk to a few companies that when through the different processes. “There’s a lot more possibilities available to entrepreneurs. “It’s great there’s so many options available to companies,” he says. GitLab’s CEO says he preferred to select investors through a traditional IPO roadshow. Like Snowflake’s CEO Frank Slootman and others before him, Sijbrandij wasn’t swayed by such arguments. Startups that raise a private financing before a direct listing, they note, might bring in comparable sums of cash for smaller pieces of their company. Proponents of direct listings typically point to the first-day “pops” as evidence that the value created by a rising stock price is going to the banks and insider investors who buy into the IPO, not the company itself, leaving millions in potential fuel for the listing company on the table. ![]() But unlike recent companies such as Amplitude, Warby Parker and Coinbase that opted for a direct listing instead of an IPO, GitLab went the traditional route.
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