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Gitlab More Than Doubles Valuation to $2.75B Ahead of Planned 2020 IPO

848 pointsby andygcookover 5 years ago

40 comments

ko3usover 5 years ago
We’ve been using Gitlab for 4 years now.<p>What got us initially was the free private repos before github had that.<p>We are now a paying customer.<p>Their integrated CICD is amazing. It works perfectly for all our needs and integrates really easily with AWS and GCP.<p>Also their customer service is really damn good. If I ever have an issue, it’s dealt with so fast and with so much detail. Honestly one of the best customer service I’ve experienced.<p>Their product is feature rich, priced right and is easy.<p>I’m amazed at how the operate. Kudos to the team
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petercooperover 5 years ago
Does anyone know why GitLab hasn&#x27;t taken off so much amongst open source projects?<p>I have no horse in the race (indeed, I&#x27;d love for there to be more variety in this space) but one of my jobs is to link to open source repos and I&#x27;ve just checked.. and the last one I linked to was in December 2018. In the niches I cover, almost no-one seems to actually using GitLab for their open source repos.<p>Lest you think it&#x27;s just me, compare <a href="https:&#x2F;&#x2F;news.ycombinator.com&#x2F;from?site=github.com" rel="nofollow">https:&#x2F;&#x2F;news.ycombinator.com&#x2F;from?site=github.com</a> to <a href="https:&#x2F;&#x2F;news.ycombinator.com&#x2F;from?site=gitlab.com" rel="nofollow">https:&#x2F;&#x2F;news.ycombinator.com&#x2F;from?site=gitlab.com</a> .. the first is packed with projects posted here on a daily basis. The latter? 13 project links in about 50 days.
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pm90over 5 years ago
Kudos to the team. While my current workspace is tied to GitHub, I will most certainly switch to Gitlab given the option to. Why? Only one reason: GitHub support is fucking horrible. It’s insanely bad, even for paying enterprise customers. Open a support ticket, you will get some superficial pointers to documentation, and then be completely ignored.<p>Their Product team is the absolute worst too. There are so many things that can make life easier for users (better configurability for CODEOWNERS notification?) and they will flat out ignore you.<p>Gitlab on the other hand seem much more responsive to users... their actions speak volumes. They recognized the need for integrated CI&#x2F;CD with code and instead of stealing TravisCIs ideas (cough GitHub Actions Cough), they built one years ago.<p>I really do hope they grow to be the tool of choice for devs. GitHub has lost its way: from being the place that devs loved, to a corporate soul sucking behemoth made of a seemingly insensitive product team.<p>Gitlab on the other hand, release new features, have better support, give interesting talks etc. Very excited to see where they go and I wish them the very best.
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ta478447guuover 5 years ago
They seem to have achieved golden child status on HN, and from my experiences its hard to see why. Glad there&#x27;s a non-Microsoft option, but I wish it were another whole setup.<p>Support is non-existent, clunky CI infrastructure, barebones all over. They seem to just be good at reacting in public threads.
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boldsloganover 5 years ago
A cool part from the article<p>&gt;&gt; part of a shadow program in which employees spend two weeks sitting in on their CEO’s meetings, feedback sessions and media or analyst calls<p>Does anyone know of companies that do this &quot;internship&quot; &#x2F; shadowing &#x2F; mentoring built into the company?
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harrisonjacksonover 5 years ago
I am a huge fan of gitlab. We are in the process of moving our github org over. We love!! the gitlab ci tools. We use them extensively for mobile cicd. The gitlab ci runner is super easy to get running and coordinates well with a host and vm setup. We run it on a mac min sitting on my desk and have never had any issues with it.<p>My only nitpick is the regex matching they do to mask protected environment variables from ci logs is not sufficient. It won&#x27;t match + scrub aws secret keys in the logs, which seems like a pretty glaring problem in a cicd setup.<p>&gt; masked so they are hidden in job logs, though they must match certain regexp requirements to do so<p>We&#x27;ve been able to work around it, but it did make that particular automation more difficult.
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ryanmcbrideover 5 years ago
At my last job Gitlab was in the stack and I had never used it before so I was expecting it to be a real pain. It was actually a perfectly pleasant experience. I don&#x27;t think it&#x27;ll make me leave Github but I put them at the same level now.<p>Merge Requests never felt right saying over Pull Requests, even though it&#x27;s more descriptive of what&#x27;s actually happening.
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dpflanover 5 years ago
I am curious how the Gitlab is so valuable. I&#x27;ve never used the service, but HN posts keep me informed superficially. Could someone explain the valuation?
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asdkhadsjover 5 years ago
Related question. Is it possible to use Gitlab CI with a runner running on your own hardware to get unlimited CI time? I&#x27;d like to take a machine at my home and use it to run automated tests&#x2F;etc, especially because some of the integration tests can be quite long <i>(ie, chewing up CI minutes)</i>.<p>I thought this was possible, but after searching I was often confused. I imagine I&#x27;m using poor terms during my search. Thoughts?
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dijitover 5 years ago
While my org uses perforce extensively; we also have a gitlab premium license (with far too many seats than we have users due to a fuck-up deploying mattermost org wide then promptly disbanding the effort after the damage was done) which we use enjoyably.<p>Despite the fact the people who host our gitlab internal do not update it often or support it well I do think it’s a great product at the enterprise level.<p>So much so that I host one myself for my IRC community to use!<p>Glad it’s working out for them.
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ltbarcly3over 5 years ago
I just want to address &#x27;valuation&#x27; quickly for people who may not be familiar with how this is made up.<p>Lets say I have a peanut cart, and in my sack I have 10,000 peanuts. Some sucker comes along and invests in the peanut cart, and I sell him 1 peanut&#x27;s worth of the cart for $1.00. By the usual rules of &#x27;valuation&#x27;, the valuation of my sack of peanuts is now $10,000.00.<p>Valuation just means what someone somewhere estimates the value to be, it doesn&#x27;t have to be credible. It becomes more significant when investments are made, since if an investor puts in money at a valuation of X, they are betting that the company will find liquidity at some point in the future with a valuation greater than X, or the investor will lose money (even this is not true, since they will likely have liquidation preference or other backstops to protect themselves at the expense of founders and employees).<p>The short version is, valuation is not what the company is actually worth, or even an impartial estimate or appraisal. It is purely the amount invested divided by the fraction of the company that investment purchased (even if the fraction is small), and it ignores things like liquidation preference that let investors hedge risk when they invest money at valuations that make no sense.
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gmiller123456over 5 years ago
Silly question: What are &quot;CI pipeline minutes&quot;? I read their FAQ which just says it&#x27;s minutes used on their &quot;runners&quot;, which only changes the question to &quot;What are runners, and where do they fit in?&quot;<p>I figured out CI means Continuous Integration, which is something I don&#x27;t use, nor want to. I&#x27;m mainly just interested to know if this comes in to play if I just want to use GitLab to publicly share code like on Github.
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alexis_frover 5 years ago
Is it related to Atlassian’s huge price increase (40% to 320%) for Server licenses? They try to push everyone to the cloud, almost by force. It made the stock (NASDAQ:TEAM) lose about 16% in 20 days.<p><a href="https:&#x2F;&#x2F;info.seibert-media.net&#x2F;display&#x2F;Atlassian&#x2F;Atlassian+Price+Increase+October+2019" rel="nofollow">https:&#x2F;&#x2F;info.seibert-media.net&#x2F;display&#x2F;Atlassian&#x2F;Atlassian+P...</a>
kimjongtrillover 5 years ago
kind of wish they had kept it a little more lightweight. been running v7.10.5 as a personal repo on a small-ish sized vps. went to upgrade&#x2F;migrate to a newer version the other day and the recent versions crash out on the same host configuration. i eventually got it up and running but it was sluggish and nearly unusable.<p>sticking with v7.10.5 for now but i will probably switch to gogs or something similar soon.
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exabrialover 5 years ago
Github long ago realized how unprofitable support is when you have a monopoly. Glad to see GitLab carving up a market segment.
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keithwhorover 5 years ago
Congrats, GitLab team. Way to build an impressive business.<p>When anybody tells you there are rules to venture capital — like it’s impossible to take on massive incumbents that have network effects — ignore them. The GitLab team is doing something phenomenal here.<p>Enjoy your success! You’ve earned it.
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cjover 5 years ago
Question to current Gitlab users: Why do you use Gitlab instead of Github? What are the killer features that make it worth switching to?
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NicoJuicyover 5 years ago
Is Sytse on vacation? It&#x27;s the first time I don&#x27;t see a response from him :p
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pepemonover 5 years ago
Well maybe they will either backport or accept community implementation of merge request approval functionality now [1]. With all kudos to the GitLab team, absence of this feature while all other major players free tiers have it is quite a nonsense. Anyway, GitLab is really solid platform with pleasant OOBE. Always recommend it to anyone.<p>[1] <a href="https:&#x2F;&#x2F;gitlab.com&#x2F;gitlab-org&#x2F;gitlab&#x2F;issues&#x2F;20696" rel="nofollow">https:&#x2F;&#x2F;gitlab.com&#x2F;gitlab-org&#x2F;gitlab&#x2F;issues&#x2F;20696</a>
sam1rover 5 years ago
Confirming I have used GitLab across 10 different domains&#x2F;entities&#x2F;projects &amp; have had zero issues. IMO... both GH + GL are here to stay. Here&#x27;s how I evaluate how to use for each one.<p>=&gt; GitHub = OSS street cred. [You might want to get hired or want to showcase your skills]<p>=&gt; GitLab = Business&#x2F;Enterprise related. [You might want to earn $&#x2F;make a living... you know.. following your countries&#x27; compliancy]<p>FWIW...My two cents...Both great products, however, different use cases.
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dcchambersover 5 years ago
Does Gitlab release user statistics? I am curious to know how many <i>active</i> users they have.
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nlover 5 years ago
<i>its annualized revenue is growing at a rate of 143% year-to-year, with net retention of customer spending at 153%.</i><p>Net dollar retention is the metric anyone judging a SAAS business should be looking at. 153% is nearly the best I&#x27;ve ever seen - Twilio was 155%, Slack 140% at IPO[1], Sendgrid 115%, Mulesoft 117%[2]<p>[1] <a href="https:&#x2F;&#x2F;gopractice.io&#x2F;blog&#x2F;slack-ipo-reading-between-lines&#x2F;" rel="nofollow">https:&#x2F;&#x2F;gopractice.io&#x2F;blog&#x2F;slack-ipo-reading-between-lines&#x2F;</a><p>[2] <a href="https:&#x2F;&#x2F;about.crunchbase.com&#x2F;blog&#x2F;net-dollar-retention&#x2F;" rel="nofollow">https:&#x2F;&#x2F;about.crunchbase.com&#x2F;blog&#x2F;net-dollar-retention&#x2F;</a>
factorialboyover 5 years ago
Original announcement: <a href="https:&#x2F;&#x2F;about.gitlab.com&#x2F;2019&#x2F;09&#x2F;17&#x2F;gitlab-series-e-funding&#x2F;" rel="nofollow">https:&#x2F;&#x2F;about.gitlab.com&#x2F;2019&#x2F;09&#x2F;17&#x2F;gitlab-series-e-funding&#x2F;</a>
cityzenover 5 years ago
Honest question from someone that knows nothing about valuations, does this seem kind of ridiculous? Aside from investors basically making this stuff up, is there any actual validity to a billion dollar valuation anymore? What would I look at (aside from %s) that would show me, someone that knows nothing about finance, that this company is this valuable? What is their actual revenue? I’m mostly curious to see how reality stacks up against hope and what the actual financial outcome of this would be outside of seeming like these companies are being dumped on the market for a big payout.
RivieraKidover 5 years ago
Why so much? I would guess that you should be able to build this from scratch for something like 1% of that valuation.
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vvramover 5 years ago
Well deserved ! Kudos to the team, staying true to their Vision and execution.
mlindnerover 5 years ago
I honestly hate gitlab compared to github. So many broken features and half implemented things. It&#x27;s got all the same problems Jira has (as compared to GitHub which is amazing to use).
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lswainemooreover 5 years ago
Gitlab is great! Most major downside from my perspective is that the diffing functionality is much worse than Github&#x27;s. Super slow + resource intensive.
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JalisRahatover 5 years ago
We are Gitlab customers since 2019 and I can tell you that your expectations for what support can do for you are very unrealistic.
KaoruAoiShihoover 5 years ago
Please give gitlab some more money so they can enhance development. My experience with gitlab has not been the best. <a href="https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=20923559" rel="nofollow">https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=20923559</a> But congrats to the team too. It&#x27;s good to see another startup succeeding for delivering real value.
preommrover 5 years ago
I still don&#x27;t understand how github was worth 7+ billion.
cfvover 5 years ago
How does this even work? Like, does one plainly submit a form to the govt saying &quot;yeah just double it&quot; or what? I never actually got the hang of how this things are defined; can anyone ELI5?
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jonbronsonover 5 years ago
Still waiting on better monorepo support in GitLab.
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larryyangsenover 5 years ago
We use gitlab.com with drone CICD.
johnapridonidzeover 5 years ago
wow
timwayne16over 5 years ago
I am a huge fan of gitlab. We are in the process of moving our github org over. We love!! the gitlab ci tools. We use them extensively for mobile cicd. The gitlab ci runner is super easy to get running and coordinates well with a host and vm setup. We run it on a mac min sitting on my desk and have never had any issues with it. My only nitpick is the regex matching they do to mask protected environment variables from ci logs is not sufficient. It won&#x27;t match + scrub aws secret keys in the logs, which seems like a pretty glaring problem in a cicd setup.
OrgNetover 5 years ago
triple it... and gimme 20k, only.
benj111over 5 years ago
I like how, considering all the wework shenanigans, they just unquestioningly report a doubling in another unicorns value.
sieabahlparkover 5 years ago
I don&#x27;t see how it&#x27;s worth that much unless their plan is to strip all features from gitlab community or expect a Google acquisition.
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iagooarover 5 years ago
It&#x27;s a shame they sold out so quickly to US investors (I think they are even officially incorporated in the US now?).<p>They could have become Europe&#x27;s largest software company, instead they chose to follow the money.<p>To be fair, I guess significant European investment is still hard to come by these days.