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Microsoft buys Github for $7.5B. The Hustle Tues, Jun 5 Brought to you by FreshBooks… break free from Excel sheet accounting. Microsoft pursues developers with $7.5B GitHub buy, but they’re Gitting out fast Microsoft announced yesterday that it had acquired...
Brought to you by FreshBooks… break free from Excel sheet accounting.
Microsoft pursues developers with $7.5B GitHub buy, but they’re Gitting out fast
Microsoft announced yesterday that it had acquired GitHub, the open source digital repository for developers, for $7.5B in stock.
Microsoft is buying the site to sell its cloud services and developer tools to GitHub’s active community -- which benefits GitHub investors, but raises red flags for users concerned about the platform’s independence.
The future is wide open (source)
MS’s acquisition of the world’s premiere open source network is a reversal of past policy at ‘Soft. In 2001, their CEO famously called Linux (an open source code that threatened Microsoft’s many patents) “a cancer.”
But since then, MS has accepted open source inevitability -- and now it’s more focused on attracting developers to its Azure cloud.
Last year, the company closed its GitHub competitor, CodePlex, and now it hopes to attract GitHub’s developers, who have collectively used the platform to store 80m software projects.
Microsoft takeovers haven’t been perfect in the past
Acquiring mature companies for their user bases is a classic MS strategy (used to buy Skype, Nokia and LinkedIn), but one that often results in the slow death of the original companies.
And, while the big ’Softie hopes to win over GitHub’s 28m contributing developers to dominate the cloud services industry (expected to hit $300B by 2021), many of them have already started to jump ship.
GitLab, GitHub’s most direct competitor, saw a 10x increase in daily use 2 days ago when whispers of the alleged acquisition first surfaced.
Well, at least it’s a win for GitHub investors
GitHub has only raised 2 rounds of financing (for a total of $350m) since it was founded in 2008. But their most recent round of funding in 2015 only valued the company at $2B -- meaning the $7.5B sale was a huge investment multiplier for VCs with money riding on the ’Hub.
A startup that builds esports infrastructure for high schools scores $15m in funding
Esports “infrastructure” platform, PlayVS, has closed a $15m Series A funding round to develop school-sponsored gaming programs, “clicking off” its inaugural season in October, with organized esports in over 18 states with approximately 5m students across 5k schools.
The round was led by New Enterprise Associates, with participation from Dollar Shave Club founder Michael Dubin, Twitch cofounder Kevin Lin, Nas, the San Francisco 49ers, and existing investor Science.
What exactly does esports infrastructure entail?
PlayVS, which rocketed out of the LA-based Science startup studio in April, is an all-in-one online portal for esports players that develops organizational software to formalize high school gaming competitions.
With the PlayVS platform, matches are set and scheduled, stats are tracked and collected, and wins and losses are auto-recorded to prevent cheating -- basically everything the NFHS (AKA, the high school equivalent of the NCAA) does for IRL sports.
In fact, since November, the company has partnered with the NFHS to learn the nuances of HS sports to build out leagues and establish rules.
Esports on the up and up
As esports’ popularity continues to rise, colleges and professional organizations have started investing in scholarship programs and pro teams -- PlayVS wants to feed that talent funnel.
According to TechCrunch, their new round of funding will go toward expanding the product and the team to eventually put PlayVS in every high school across the country.
Starbucks founder Howard Schultz calls it quits on coffee
Howard Schultz, the beloved entrepreneur who built Starbucks into a global coffee powerhouse, is stepping down as chairman of his bean empire.
Schultz, widely known for his outspoken political and social views, stepped down as CEO in 2016, and now, as he told Starbucks employees yesterday, he’s “thinking about a range of options for [him]self, from philanthropy to public service.”
Rumors are swirling about a potential entry to politics...
Schultz has been trying not to stoke rumors of an upcoming presidential campaign… while making some pretty presidential statements.
“I want to be truthful with you without creating more speculative headlines,” he told The New York Times. “For some time now, I have been deeply concerned about our country.”
*Cue speculative headlines*
Whether or not he runs for office, Schultz’s past actions have had a distinctly political flavor -- Starbucks’ 2015 racial dialogue campaign, 2017 program to hire 10k refugees, and recent racial bias training have conditioned consumers to see Schultz’s business as inherently political.
’Twas a good run for coffee’s commander in chief
During his tenure, Schultz expanded the company’s footprint from a handful of Seattle cafes into 28k locations in 77 countries -- driving the company share price up 21k% from its 1992 IPO price.
After such a long time with the company, Schultz admitted to reporters that “taking [his] green apron off is hard.”
But Bill Gates, whose dad helped Schultz buy Starbucks in 1987, believes in his old buddy, saying “it’s exciting to consider what he might accomplish philanthropically.”
Tesla has reportedly refunded 23% of US Model 3 pre-orders
Two years ago, hundreds of thousands of people put $1k down to reserve Tesla’s new, lower-priced Model 3 electric car, with the expectation that they would receive their vehicles in 2018.
But, according to new data from Second Measure, 23% of all Model 3 deposits in the US were refunded by the end of April, with another two-thirds in limbo, either still holding out hope or waiting for their refund to be processed.
The Model 3 has been riddled with major delays in the 2 years since Elon Musk and the gang began production, with the latest holdup reportedly to “improve automation.”
In Tesla’s defense, they have started to hit their stride this year. With production rates on the rise, they believe they’ll hit their 5k vehicle-per-week groove in the next month or so.
The refunds don’t necessarily mean bad news, but… yeah
It should also be noted that some people could very well have stepped out of their place in line because they just flat out changed their minds.
Recode also notes that these cancellations could help Tesla fulfill their promises in the long run -- with production rates still nowhere near as high as they need to be to fulfill 450k+ orders, the fewer cars they have to deliver, technically the better.
You know what they say… The best way to hit a lofty goal? Lower the bar.
There’s nothing like being first in line. So here’s your chance: This Wednesday at 11 AM PST we will be hosting a Facebook livestream w/ Kyle Taylor.
Kyle is the CEO and Founder of the Penny Hoarder a company that was dubbed the # 1 fastest-growing private media company in the U.S. for two years in a row... all while being bootstrapped. Dying to ask Kyle a question? RSVP and submit them here. [Hustle Con]
If the internet buzz hasn’t compelled you to check it out already, Fortnite is a game where 99 players parachute from a party bus onto a single map, loot for weapons, and use their shooting skills, plus their ability to build defensive positions (forts), until one person (or team) emerges victorious.
Oh, and the map shrinks every few minutes. It’s funny, insane, addictive (but… in a good way, right?), and it’s free to play. [Epic Games]
Seriously, these Bluetooth trackers are a game changer. Since 2012, these tiny squares have been helping folks find everything from lost keys and wallets to misplaced water bottles and pets.
Just attach a Tile to the things you couldn’t live without, and presto. If, say your wallet, ever gets up and walks away, break out the app and hunt that leather flapper down. You can even help others find lost items through the Tile app. And with Father’s Day around the corner, it’s the perfect gift for ever-forgetful fathers everywhere. [TILE]
This edition of The Hustle was brought to you by
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Here Comes Your Man, Pixies. Doolittle sounds like a concept album — if the concept was ‘f*ck it’. Riddled with radio hits and cult classics, it’s a lesson on riding the wave and not asking where it came from.