This entrepreneur built a $1 billion business where all 700 employees work remotely:
Sid Sijbrandij knows a thing or two about building, scaling and even walking away from companies. His current venture is doing over $100 million in revenue and is valued at over $1 billion.
Sid says it is important that shares “are aligned with their contribution to the company. It's very important if you start a company to have vesting of your shares as well.” He made a balanced scorecard of all the different ways to make that decision. One of the criteria being,"Is this a good story to tell in a bar?" He showed his dad who said it was a ridiculous way to decide on your career but was very supportive either way.
During this time, he really got to know himself, and how fast-growing companies with a continuous string of problems to be solved were what kept him interested.After starting and selling app store Appappeal, Sid turned open-source software GitLab into a fast-growing venture that is on its way to an IPO in 2020.
There was so much interest in their seed round, they rolled right into the Series A financing round. They’ve since followed that up with a B, C and D financing rounds, raising a total of $158 million at $1.1 billion valuation.
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