GitHub, a service for team development and version control based on the popular Git tool, today announced it has raised $ 250 million in investment from Sequoia Capital with Institutional Venture Partners.
The total investment is now 350M dollars. The Wall Streat Journal publication estimates the company at $ 2 billion. According to Chris Vanstraat, CEO and co-founder of the company, the money will be invested primarily in sales promotion, as well as in the engineering team. In general, the goal of attracting this round is to invest in strengthening communities in different countries of the world. About 70% of users are outside the United States, hence the desire to go out to the people:
For us, GitHub in the first place is a thing for developers, i.e. for people. We are just trying to get more people in the field to support local communities.
GitHub is currently claiming 10M users working on 25M projects.