Even in the quirky world of software development, GitLab Inc. stands out.
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What is the Front Line of the U.S.? The company has no headquarters. It s releases a new version of its software every month on the 22nd of each month and publishes its entire corporate handbook online, free for anyone to read and contribute to.
The idiosyncrasies are the work of GitLab's Chief Executive Officer Sytse Sid Sijbrandij, a Dutch web developer who started exploring a business based around open-source technologies in 2012. The shares rose 24% in its debut as of 1: 38 p.m. on January 1 in New York, boosting the CEO s net worth to $2.6 billion. Sijbrandij sold 18% of the company and it owns almost 2 million shares in an offering. Other investors are Khosla Ventures and Iconiq Capital.
Sijbrandij, 42, wrote GitLab's mission to ensure that everyone can contribute, written in a letter published in the company prospectus. When everyone can contribute, users become contributors, and we greatly increase the rate of innovation. Ijbrandij built a Pandemic-era business years before Kovid - 19 reared its head. GitLab s suite of tools help developers develop, build and secure software through an open-source platform. Which is centring around the software-building philosophy of DevOps, it has won respect among developers for being almost a one-stop shop. In the 12 months ended January 2021, revenues soared 87% to $152.2 million, aided in part by businesses rushing to shift more processes online during the pandemic.
While GitLab is legal based in San Francisco, its 1,503-member workforce is 100% remote and has been since the company was founded. Sijbrandij's Pandemic emerged as a proselytizer for working from home while the pandemic was interrupted. GitLab s Remote Work Playbook, a spinoff of the highly available handbook for a company, offers what it calls unparalleled insight on creating and maintaining a distributed company. Even GitLab's origin story is a remote element. The company was started by two Ukrainian software engineers, Valery Sizov and Dmitriy Zaporozhets who were trying to create a development tool that made it easy to collaborate with colleagues.
Zaporozhets at the time worked from his home in Ukraine that lacked running water. In 2012 he stumbled on the site from the Netherlands where he was working as a developer. Impressed with the quality of the code, he joined forces and they soon began to offer services for large companies.
The three relocated to the Bay Area with a team in 2015 - their first experience working in close proximity - to participate in the Y Combinator accelerator. Sijbrandij stuck around when the program ended while most of the others returned to Europe.
The majority of GitLab s revenue comes from selling subscriptions to corporations, such as UBS Group AG and T-Mobile US Inc. The company, which has yet to make a profit, had a net loss of $192.2 million in fiscal 2021, a 47% increase from last year's forecast.
Some companies talk about being a family, Sijbrandij wrote in his CEO letter. Here the relationship is not end goal. None Jane Fraser Has a plan to have Citigroup Remake While Tormenting Rivals How.
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