The official rumor is DataDog:
https://www.reuters.com/markets/deals/google-backed-software...
Given New Relic is a direct competitor, Bill Staples' background makes even more sense.
https://www.reuters.com/markets/deals/google-backed-software...
Given New Relic is a direct competitor, Bill Staples' background makes even more sense.
I seriously don't understand the deals being made in tech. Most of the makes no sense, not even retrospectively. I get Microsoft buying Github, that was a part of their open source strategy and they've always put a high value on developers.
I wouldn't buy them for that myself, but Gitlab made $200 million in revenue in Q3 2024 [1]. So $800 million a year in revenue.
I've seen worse purchases.
[1] https://ir.gitlab.com/news/news-details/2024/GitLab-Reports-...
There might be some potential for Gitlab complement your other business, in which case you may not see the lack of profit as that big of an issue. The problem is that if you can't make those $8billions back in future profit, then you're going to start making changes to the Gitlab offerings until they do become profitable.
That might be what the new CEO is suppose to do, pump up those numbers, and make it look like a sane investment.