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Building a fundable open source company

My OSCON 2016 presentation on considerations when building an open source company that will get VC funding

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Building a fundable open source company

  1. 1. @atseitlin Building a fundable open source company May 18, 2016
  2. 2. 2@atseitlin About me • Partner @ Scale Venture Partners • Operations & Cloud Engineering @ Netflix • Founder CTOWorks • Engineering / Products @ Startups • Engineering @ Siebel Systems / Oracle Corp • UC Berkeley CS / Wharton MBA (Finance & Marketing)
  3. 3. 3@atseitlin About Scale Venture Partners • >$1B total under management • Early 2016, ScaleVP V, L.P., $335M • Funding early-in-revenue enterprise software • SaaS, Cloud Infrastructure and Security • Agari, Box, Chef, CircleCI, CloudHealth, Datastax, Demandbase, Docusign, Hubspot, PubNub, RingCentral and Threat Stack
  4. 4. 4@atseitlin Why Open Source Do good Fame & Glory Make money
  5. 5. 5@atseitlin Building a company Two roads diverged in a yellow wood
  6. 6. 6@atseitlin VC-backed companies are more likely to go public, more likely to be acquired and less likely to fail Hellmann, Thomas, Puri, Manju, and Da Rin, Marco. "A Survey of Venture Capital Research." (2011)
  7. 7. 7@atseitlin Venture 101 https://en.wikipedia.org/wiki/Venture_capital
  8. 8. 8@atseitlin
  9. 9. 9@atseitlin Nginx gaining on Apache Netcraft April 2016 Web Server Survey (http://news.netcraft.com/archives/2016/04/21/april-2016-web- server-survey.html)
  10. 10. 10@atseitlin Red Hat
  11. 11. 11@atseitlin MySQL
  12. 12. 12@atseitlin First OSS Business Model Support & Services
  13. 13. 13@atseitlin
  14. 14. 14@atseitlin Service Model is Dead http://techcrunch.com/2014/02/13/please-dont-tell-me-you-want-to-be-the-next-red-hat/
  15. 15. 15@atseitlin What’s Next
  16. 16. 16@atseitlin Community
  17. 17. 17@atseitlin “Is open source a crappy business? Very true. We didn’t realize this when we started out, but eventually we realized that you have to sell something that is just your own.” Marten Mickos Former CEO, MySQL Open Core
  18. 18. 18@atseitlin Open Core - Examples Open Source Project Hadoop Cassandra Docker Nginx Metasploit Artifactory Commercial Product Cloudera Enterprise Datastax Enterprise Docker Datacenter Nginx Plus Rapid7 Metaspoit Pro JFrog Artifactory Pro
  19. 19. 19@atseitlin The Modern Application Stack Old World DEVICES WEB SERVER APP SERVER DATABASE Constellation of Microservices New World WebMobileApps IoT SQL Security API Authentication NoSQL Big Data Mobile DB
  20. 20. 20@atseitlin Software-as-a-Service (SaaS)
  21. 21. 21@atseitlin SaaS - Examples Open Source Project Drupal / Wordpress Fluentd Spark Hadoop Docker Artifactory Commercial Service Automattic, Acquia, Pantheon Treasure Data Databricks Amazon EMR, Qubole, Altiscale Docker Cloud, Docker Hub JFrog Artifactory SaaS
  22. 22. 22@atseitlin OSS-powered services
  23. 23. 23@atseitlin The next OSS business model <Your business model here>
  24. 24. 24@atseitlin Beyond the Business Model Market Competitive Advantage
  25. 25. 25@atseitlin Summary Many reasons to open source and a few ways to monetize If you want to raise venture funding, find a business model that works Open Core and SaaS are most prevalent today. Yours could be next Don’t forget about the market and competition
  26. 26. 26@atseitlin Q & A Questions? You can reach me at  ariel@scalevp.com  www.linkedin.com/in/atseitlin  @atseitlin

My OSCON 2016 presentation on considerations when building an open source company that will get VC funding

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