Multi-billion dollar startup valuations are increasingly becoming the currency of Silicon Valley. The latest is San Francisco-based social-coding platform GitHub, which is raising a $200 million Series B that is based on a $2 billion valuation, according to a report in Bloomberg today.
GitHub “has no comment” about the potential raise and valuation, says spokesperson Kate Guarente.
Founded in Feb. 2008, GitHub gives software developers a way to share and store the code they are working on. Software engineers can use GitHub to collaborate on open-source projects. There are almost 10 million developers working on nearly 24 million projects on the platform, according to GitHub.
In addition to being a tool for software engineers, GitHub is a way for engineers to learn about each other. “GitHub has become the de facto social network for programmers. If you are using another programmer’s open source libraries, are interested in what she’s doing or just a fan of her work, you can follow her on GitHub,” said Andreesen Horowitz partner Peter Levine when the firm invested in GitHub. “If you need to hire great programmers, why look at resumes when you can view a candidate’s actual work on GitHub?”
That’s no small feat. Engineering talent is everything in our online-all-the-time, Internet-everything world. And finding and collaborating with software engineers has become a $2 billion proposition.