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Description
GitLab is a complete DevOps platform, delivered as a single application.
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A
Just
got
done
editing
this
interview,
you
guys
are
gonna
love
it
before.
I
do
that,
though,
I
want
you
to
know
that
I'm
going
to
be
in
the
comments
for
the
next
30
minutes
or
so
answering
your
questions.
If
there's
additional
questions,
you
want
me
to
ask
the
ceo
next
time
I
interview
them,
leave
them
below
or
if
you're,
just
loving
the
data
points.
I
get
ceos
to
share
click
the
thumbs
up
button
below
that's
your
way
of
telling
me
you're,
loving
this
stuff
and
I'll
get
you
more
of
it.
A
Additionally
again
I'll,
be
in
the
comments
answering
any
questions
you
have
all
right
for
30
minutes
enjoy
the
interview,
hello,
everyone.
My
guest
today
is
sid
c
brandi,
he's
passionate
about
empowering
open
source,
enabling
great
products
and
evolving
global
businesses,
a
self-taught,
ruby
developer,
a
commercialized
git
lab
with
its
creator
in
2012
and
graduated
from
yc
in
2015..
Since
then,
gila
has
grown
to
800
remote
team
members
across
55
countries
and
raised
188.2
million
in
funding
city
ready
to
take
us
to
the
top
for
sure.
A
B
Oh
yeah,
I
think,
look
you
shouldn't
celebrate
funding
or
like
a
high
people
kind.
Just
by
itself.
We
raised
268
million
dollars
in
our
last
round
at
a
post
valuation
of
2.75
billion,
so
it
was
dilutive,
but
it
wasn't
too
dilutive
and
we
raised
it
because
we
want
to
make
sure
that
every
single
part
of
gitlab
gets
to
maturity.
A
Now
this
round
this
was
actually
just
I
mean
you
just
closed
it
earlier
this
month,
correct
the
250.,
yes,
and
so
you
you
had
just
raised
prior
to
that,
I
think
about
120
million-ish
from
goldman
and
between
september
and
december
last
year.
Right,
yes,
so
so,
what's
the
thinking
behind
I
mean
when
I
look
at
a
round
like
this
right,
what
I
think
is
wow,
there's
a
lot
of
liquidity
in
the
private
markets.
This
is
perfect
for
you
it's
better
than
an
ipo.
A
B
Yes,
it
could
be.
Our
plan
is
to
become
a
public
company
next
year
and
with
this
round,
we
kind
of
have
optionality
whether
we're
going
to
do
an
ipo
or
direct
listing
yep.
So
we
structured
this
round
with
a
lot
of
different
investors
in
it
and
with
a
lot
of
investors
that
are
very
familiar
in
the
public
markets
that
are
long-term
holders.
A
A
B
A
A
So
this
is
very
rare.
I
talked
to
a
lot
of
founders
where
they
get
in
really
weird
positions
when
they
do
these
secondaries,
because
you
want
the
maximum
valuation
from
the
round,
but
then
you're
going
wait
for
employees
to
make
the
most
on
the
spread
between
their
exercise
price
right,
what
they
got
it
at
many
years
ago
and
what
they
get
today.
You
actually
want
maybe
a
different
potential
valuation
for
tax
purposes.
You
just
kept
them
both
aligned.
A
B
We
did
it's
it's
market
like
what
does
the
market
want
and
the
market
said?
Look
we
want.
There
was
more
demand
than
there
was
supply,
so
we
went.
It
went
all
the
way
up
to
the
maximum.
It
influences
the
498,
but
it's
a
one-time
event.
So
it
it's
in
having
having
continuous
trading
at
that
price
would
influence
the
409a
way
more
than
a
one-time
event.
A
A
B
Sorry
yeah
those
numbers
know
the
public
numbers.
We
always
try
to
talk
about
the
public
or
the
primary
fundraise,
never
about
the
secondary,
because
I
think
if
you
talk
publicly
it's
about,
we
raise
this
money.
People
gonna
assume
it's
the
primary
fundraise
and
also
that's
what
people
care
about
people
care
about.
Are
you
a
sustainable
company,
as
in
do
you
have
the
money
to
get
to
a
cash
flow
break?
Even
well,
that's
what
you're
signaling!
So
I
I
think
it's.
B
A
I
see
okay
so
just
to
be
clear,
and
this
is
what
you're
just
trying
to
explain
to
me
that
468
all
went
to
your
balance
sheet
million.
You've
raised
the
you
you.
How
did
you
get
the
money,
then?
Did
you
just
do
it
off
your
balance
sheet
like?
Where
did
you
get
the
money
from
to
pay
off
people
that
want
to
sell
to
20
of
their
shares.
A
B
So
nessec
private
market
is
is
facilitates
it.
It's
a
bit
tricky
like
we
have
people
in
over
20
countries
participating.
So
so
there's
a
bit
of
paperwork
there,
and
then
we
have
a
couple
of
investors
who
said:
okay,
we
want
to
buy
at
this
price
and
maximum
of
this
much.
They
all
sign
up.
The
people
offer
their
shares
up
and
then
you've
the
transaction
closes
at
the
same
point,
yep.
A
Very
good,
okay,
so
just
for
those
of
you
that
might
not
be
familiar
with
git
lab.
I
will
tell
you
what
we
had
sit
on
prior
and
so
said.
Last
time
we
came
on,
this
was
probably
oh
about
18
months
ago
you
obviously
shared
you
founded
the
company
in
2012,
but
at
that
point
you
were
serving
about
5
000
customers.
What
are
you
up
to
now
today.
B
So
today,
gitlab
is
used
in
over
a
hundred
thousand
organizations,
so
we
got
millions
of
users,
there's
10
000,
paying
customers,
it's
an
open
source
project,
so
there's
different
versions
and
what
we
do
is
it's
a
single
application
for
the
devops
lifecycle.
It's
everything
you
need
to
build
software
delivered
as
a
single
application,
all
the
way
from
planning
what
you're
going
to
do
to
securing
that
monitoring
and
defending
that
and.
A
B
A
B
It's
it's
about
that
range,
but
I
think
that's.
It
covers
a
lot.
It's
yeah,
it's
not
a
good
number
to
look
at.
We
could
easily
make
that
number
higher.
Just,
for
example,
we
have
a
very
hybrid
sales
model,
so
we
do
both
like
small,
medium
businesses,
mid
market
and
the
enterprise
market.
The
enterprise
market
is
72
percent
of
our
arr
and
those
are
the
bigger
deals.
So
what
most
companies
do
they
stop
selling
to
the
smaller
companies?
We
don't
think
that
is
fitting
for
an
open
core
project.
B
We
think
those
we
really
appreciate.
Smaller
businesses
also
working
with
gitlab,
and
that
brings
your
our
average
revenue
per
customer
down.
But
I
don't
think
that's
a
that's
a
metric.
We
watch
the
metric.
We
watch
is
just
incremental
acv
and
growing
that
doubling
that
and
it's
good
to
look
at
like
the
biggest
deal
sizes
and
seeing
those
like
grown
really
really
fast
year
over
year.
A
B
A
B
So
my
thing
for
growth
and
growth-
in
our
case
it
can
be
a
couple
of
things.
It
can
be
new
customer
coming
in
existing
customer
expanding
seat,
wise
so
getting
more
users
on
the
platform
existing
customer
growing
in
the
tier
that
they
have
here
lab
at
like
buying
a
more
expensive
tier
and,
of
course,
producing
gross
churn
so
making
sure
that
customers
renew
those
are
kind
of
the
four
big
components
and
then
split
up
between
the
between
the
different
kind
of
types
of
customers
and
the
different
go
to
market
motions.
We
have
there.
A
So
you
mentioned
last
time
you
were
on
the
show
that
your
gross
revenue
turn
annually.
It
was
already
about
ten
percent
or
less
than
one
percent
a
month,
which
I
would
say,
that's
already
pretty
healthy.
Have
you
squeaked
out
additional
efficiencies
there?
Is
it
lower
than
ten
percent
gross
revenue
turn
annually?
Now.
A
B
Net
expansion
has
been
absolutely
amazing
and
it's
way
north
of
150
and
150
percent
would
already
be
kind
of
best
in
class.
If
you
look
at
public
companies,
so
it's
been
amazing
to
see.
For
example,
goldman
sachs
is
a
customer
and
we
came
in
and
they
said,
look
if,
if
you're
doing
really
well
in
nine
months,
we're
going
to
be
a
thousand
users
and
then
two
weeks
later,
we're
1500
users.
B
Now
there
are
over
5000
users,
it's
we
have
a
product
that
makes
it
so
much
easier
for
the
developers,
the
operations,
people
and
the
security
people
in
the
company
that
we
don't
have
to
push
it
as
soon
as
the
company
says.
Okay,
we
allow
people
to
use
that
people
flock
towards
it.
Every
company
is
like
they
have
diy
ops,
we
call
it
they.
They
put
together
their
own
platform
from
all
kinds
of
solutions
that
are
pretty
good
by
themselves,
but
the
big
problem
is
integrating
all
of
it.
B
If
you
have
an
update
to
your
application,
you
don't
want
to
go
to
15
tools
and
take
two
weeks.
You
want
it
done
in
minutes
and
as
soon
as
they
open
up
that
to
their
people,
it
starts
expanding
and
we
get
more.
People
in
two
thirds
of
the
net.
Expansion
is
driven
by
higher
seed
count
and
we're
really
proud
of
that.
B
A
B
B
Yeah
exactly,
but
it
would
be
a
good
thing
because
and
we're
more
aligned
from
the
start
with
the
customer.
It's
more
realistic
expectations
that
the
number
is
kind
of
too
high
and
we
want
it
down.
But
people
regard
it
as
a
good
number
and
any
time
a
good
number
comes
down
and
that's
seen
as
something.
A
B
A
Deal
not
a
bad
statement
to
make
talk
to
me
about
cac.
When
you
look
at
obviously
your
different
cohorts,
I
don't
want
to
talk
on
a
dollar
basis,
because
obviously
they'll
vary
widely
based
off
the
code
you're
selling
in
your
sales
motion.
But
when
you
look
at
the
payback
period,
you're
optimizing
for
in
each
of
your
cohorts,
is
there
a
typical
month
range
that
is
consistent
across
all
of
them?
A
B
Our
goal
is
to
make
sure
that
as
soon
as
the
customer
pays
their
first
invoice,
which
is
like
a
month
or
two
after
after
we
signed
the
deal
that
we
get
back
the
customer
acquisition
costs.
So
that's
like
a
magic
number
of
one
1.0
and
I
think
we've
sometimes
you
hit
that
and
sometimes
we
don't
and
it
really
depends
if
we're
in
expansion
mode.
With
our
sales
force,
like
we're
growing,
we
were
kind
of
behind
hiring
sales
people.
B
So
you
do
a
great
you
hire
a
lot
of
extra
sales
people
and
then
it
dips
below
1.0
and
then
because
they
have
to
ramp
up.
They
have
to
hit
up
the
quota
exactly.
They
have
to
ramp
up,
there's
about
eight
to
nine
months,
ramp
up
time
where
they,
where
they
go
from
zero
to
a
hundred
percent
of
quota
per
month.
A
B
Enterprise
cohort
because
we
got
like
we
got
inside
sales,
people
et
cetera,
so
quotas
are
all
the
way
from
300
000
to
2
million
based
off
which
code
they're
selling
in
yeah.
What
is
their,
what
is
their
geo?
How
experienced
are
they
etc?
So
we
really
differentiate
there
but
yeah
for
an
enterprise
salesperson,
making
making
like
a
quarter
of
a
million
or
more
it's
it's
it's
north
of
a
million
dollars,
yeah
incremental
acv
and.
A
B
We
don't
think
in
it
like
that.
Well,
so
we'll
be
like
4x
to
5x,
but
we
don't
think
of
it
like
that.
What
we
want
to
do
is
we
want
to
pay
a
competitive
wage.
We
want
to
make
sure
we
can
attract
people,
we
want
to
attract,
and
I
want
to
make
sure
that
it's
realistic.
We
want
our
goals
of
80,
of
our
sales
people
on
100
or
more
of
quota.
That's
good.
So
those
are
the
two
things.
B
I
think
native
quota
carry
I'd,
have
to
look
that
up.
So
you
can
you
can
what
you
can
do.
Is
google
get
lab
team
and
you
get
to
a
page
that
lists
our
entire
team
and
you
can
slice
and
dice
it
exactly
how
you
want
it?
So
I
see
that
just
now
we
have
900
team
members.
This
page
is
like
old,
updated,
updated,
multiple
times
per
day,
so
is.
A
Yep
sid
last
question:
I've
got
for
you,
obviously
you're,
driving,
incredible
growth.
The
economics
make
a
lot
of
sense,
so
you
could
argue
that
a
lot
of
burn
is
is
a
healthy
thing
for
you
right
now,
because
the
economics
pan
out,
but
at
some
point
it
does
become
a
little
uncomfortable
right.
So
what's
that
breaking
point
for
you?
Are
you
comfortable
burning?
You
know
10
million
a
month.
B
B
We
want
to
make
sure
that
we
capitalize
on
a
giant
market
opportunity,
but
I
think
a
year,
two
years
from
now
we
want
to
stay
north
of
that
rule
of
40
and
and
keep
driving
that
we
don't
have
an
absolute
percentage
in
mind,
and
the
other
thing,
of
course,
is
don't
run
out
of
cash,
so
always
make
sure
that
you
can
get
back
to
cash
flow
break
even
with
the
cash
you
have
in
the
bank.
It's
never
depend
on
a
future
fund
raise
when.
A
A
B
A
That
was
too
high:
yeah
yeah,
okay,
good
all
right
so
200
year
over
year,
growth
from
2017
to
2018
140
year
over
year,
growth
2018
to
you
know
finishing
out
2019
here.
So
on
that
growth
rate,
what
you're,
basically
telling
me,
is
you're,
happy
and
comfortable
spending
up
to
you
know
well,
basically,
negative
100,
ebitda
margin,
because
100
negative
100
plus
140
is
puts
you
above
e40
correct.
B
B
The
capital
is
relatively
affordable
to
get
right
now.
Are
we
going
to
see
a
return
and
this
fiscal
we're
spending
50
million
dollars
in
development
costs
like
engineers,
shipping,
more
functionality
in
the
product,
and
our
question
is
okay?
Are
we
going
to
see
a
big
multiple
on
that
and
so
far
the
answer
seems
to
be?
Yes,
our
customers
really
need
this
functionality
and
they
need
it
yesterday.
A
Sid
before
we
wrap
up
with
the
famous
five
again,
you
just
closed
268
million
right
in
your
series
e.
Was
there
a
general
target
in
terms
of
your?
You
know,
you
made
that
you
raised
that
money
and
you're
planning
for
18
months
of
burn
or
36
months
of
burn
or
six
months
of
burn.
What
time
frame
were
you
raising
for?
Would
you
say.
B
A
B
I
I'd
like
to
say
infinite
runway
because
you
always
make
sure
we
can
get
back
to
cash
flow
break
even
based
on
the
money
we
have
so
every
time
we've
raced
it
wasn't.
It
wasn't
to
like
make
sure
we
expand
our
runway.
The
runway
is
always
infinite.
We
always
make
sure
we
can
get
back
so
every
time
you
raise
it's
like
wow
that
we
we
see
a
really
high
multiple.
Unlike
the
features
we
ship
on
our
r
d
investments,
so
let's
raise
more
money
and
invest
more
in
r
d.
A
B
B
Well,
well,
it's
it's!
It's
never
kindness,
but
what
it
is
is
I
had
the
same
idea
for
a
remote
education,
but
I
f
with
one
twist
to
it.
I
think
also
people
should
get
paid
to
follow
an
education
because
there's
very
few
people
who
can
take
forego
nine
months
of
income,
so
you
should
get
paid
to
do
lambda
school,
and
so
I'm
talking
to
him
like
I
said
you
look
you're
doing
exactly
what
I
thought
I
should
be.
B
That
should
exist
in
the
world
and
I
thought
I
had
to
do
it.
Can
you
please
do
the
stipends
as
well
he's
like?
Well,
we
need
money
for
that.
We
need
to
hire
a
cfo
and
need
some
money
kind
of
to
to
to
take
that
risk.
I
said
okay
I'll
supply
that
money.
It
will
save
me
a
lot
of
time
not
having
to
do
that
myself,
so
he
did
it
and
he's
they're
now
doing
that
they
they
do
more
than
two
million
in
stipends
this
year.
B
A
I
mean
I
always
say
when
I'm
on
these
cable
stations
debating
the
future
of
work,
and
I
say:
what's
you
know,
how
do
you
solve
student
debt?
I
say
it's
lambda
school,
that's
how
you
solve
student
debt,
it's
lambda
school,
exactly
number
three!
What's
your
favorite
online
tool
for
building
your
company.
A
Guys
there
you
have
it:
gitlab
has
raised
468
million
dollars
last
last
round:
250
million
at
a
2.6
2.7
billion
dollar
pre-money
evaluation
more
than
a
20
x,
multiple
on
their
ar
this
sets
them
up
to
either
do
an
ipo
or
do
a
direct
listing
as
soon
as
next
year.
They
also
offered
us
obviously
secondary,
is
via
the
nasdaq
private
market,
where
folks
could
sell
to
20
of
their
vested
shares,
but,
most
importantly,
they're
investing
50
million
dollars
in
pushing
additional
code
value
to
their
customers.