Alphabet Backs GitLab's Quest to Surpass Microsoft's GitHub
- Company raises $100 million, valuing it just over $1 billion
- Microsoft bought rival GitHub for $7.5 billion in stock
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GitLab Inc., a platform for sharing and collaborating on code, said it raised $100 million to expand its suite of tools as it fights for market share with with Microsoft Corp.’s GitHub.
The fundraising values the startup at just over $1 billion, a company spokesman said, making GitLab the latest unicorn in the booming market for digital operations management. Alphabet Inc.’s GV, Iconiq Capital and Khosla Ventures participated in the financing round.