GitHub

Deal Snapshot

Company: GitHub, Inc.

Website: github.com

Sector / Category: Developer platform / Code hosting and collaboration / DevOps and software development tooling

Headquarters: San Francisco, California, USA

Founded: 2008

Investor: Frazier VC

Investment Vehicle: Fund I

Deal Type: Secondary

Realization: Acquired by Microsoft (announced 6/4/2018; completed 10/26/2018)

Company Overview

GitHub is a developer platform where teams build, host, and collaborate on software using Git-based version control, workflows, and integrated tooling. It became core infrastructure for modern software development by combining code hosting with collaboration, review workflows, and an ecosystem that supports open source and enterprise development at scale.

Public Funding / Capital Events

Jul 9, 2012 — $100M Series A raised

GitHub raised a $100 million round led by Andreessen Horowitz.

Jul 29, 2015 — $250M Series B raised

GitHub raised a $250 million Series B led by Sequoia Capital with participation from Andreessen Horowitz, Thrive Capital, and Institutional Venture Partners.

Jun 4, 2018 — Microsoft announces agreement to acquire GitHub for $7.5B

Microsoft announced it would acquire GitHub for $7.5 billion in Microsoft stock.

Oct 26, 2018 — Microsoft completes acquisition

Microsoft announced the acquisition was completed on October 26, 2018.

Investment Summary

Frazier VC invested in GitHub through secondary purchases in Fund I in July 2016 and January 2017. These secondary purchases provided exposure to a category-defining developer platform that became critical infrastructure for software teams and enterprises globally, prior to the company’s acquisition by Microsoft in 2018.

Why We Invested

Frazier VC invested in GitHub because we believe developer infrastructure businesses can scale efficiently as adoption compounds across companies, teams, and ecosystems. GitHub’s platform became embedded in mission-critical software workflows, creating strong product stickiness and meaningful barriers to entry through community scale, integrations, and switching costs. We also value companies that serve as foundational infrastructure for other businesses, where growth can accelerate as more organizations standardize on the platform.

Other Investors

Andreessen Horowitz

Sequoia Capital

Thrive Capital

Institutional Venture Partners