Photo: Owen Thomas, Business Insider
GitHub, the social coding startup that offers programmers a place to store their code and work on open-source projects, just raised $100 million on a $750 million valuation.To understand why GitHub is worth so much, you have to be a programmer. For them, GitHub is a combination of LinkedIn, Twitter, and Google Docs: It’s at once a place to showcase your skills, talk shop, store your work, and collaborate with others.
It’s also profitable, from what Github cofounder and CTO Tom Preston-Werner told me recently. GitHub offers code repositories on its public website for free. It charges fees, starting at $7/mo., for private repositories; it also sells GitHub Enterprise, which lets businesses put code on their own servers, behind corporate firewalls.
We spoke with Preston-Werner at a lavish party GitHub threw for itself last month. Ostensibly, the occasion was the launch of a Windows version of its code-management software. It was quite the affair, taking up the entire second floor of San Francisco’s Ferry Building. But since GitHub hadn’t taken a dime of outside capital until today, no one can say the company was blowing investors’ money on a fancy shindig.