VIEW EVENT INFORMATION: GitHub
GitHub Is Raising A Secondary Round
OCT
7
Status: Available Now!
Type: News
Date: Friday 7 October 2016, 12:00 AM
Media: Techcrunch

SOURCE
About the organization GitHub:
Type: Business
Sub-Types: Website, Computer Software, Social Networking Agent
Notable Organizations: GitHub, Techcrunch
We’re hearing from several sources that a secondary financing round is in the works for GitHub, following its last $250 million financing round that valued it at $2 billion in July last year. However, there’s a little bit of interesting chatter beyond that they’re raising a secondary for potential liquidation of investors or employees, we hear. There are two parts to the story: first, this secondary round may value the company below the $2 billion valuation from its previous round. One source estimated the range could even be around $1.5 billion, though we couldn’t pin down the exact number. However, another source tells us that this secondary is likely for common stock, which could complicate the matter a bit. It’s hard to tell exactly where preferences lie and what rights investors got, so the valuation calculation can get a little fuzzy here — and it may not, in the end, technically be a down round in the traditional sense. But perhaps the more interesting one is that a rumor is flying around that Microsoft is sniffing around the company. We aren’t sure if it’s related to an acquisition or potentially a strategic investment (talks around one may inevitably lead to the other), or it could be that the companies may be exploring a deeper partnership. A representative from GitHub said there’s no truth to the Microsoft acquisition rumors, though declined to comment on the rest of the story. A representative from Microsoft declined to comment. We weren’t able to learn who would be able to participate in this secondary round — whether it would be investors or employees. But either way, given that GitHub is an eight-year-old company, the liquidation event shouldn’t be super surprising.
Leave Comments:

Name:

Email:

Subject:

Message:

(Maximum characters: 255)
You have characters left.