It’s not been too long since Red Hat posted profits of over $1 Billion, and now it’s GitHub making the news with its financials. After four years in business, GitHub took its first outside investment from venture capitalists Andreessen Horowitz, with a lofty sum of $100 Million (£65 Million) invested.
Announcing the investment on the GitHub blog, CEO Tom Preston-Warner admitted it wasn’t that they necessarily needed it: “Our company has been profitable for years, is growing fast, and doesn’t need money. So why bother? Because we want to be better. We want to build the best products.”
Marc Andreessen and Peter Levine of Andressen Horowitz will also be joining the board of GitHub, and you can read Levine’s take on the deal on his blog.