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Andreessen Horowitz invests “eye popping” $100m in Github

11 Jul 2012

US venture firm Andreessen Horowitz has invested an “eye popping” $100m in US software company Github, according to general partner Peter Levine.

He explained in his blog, “Why did we bet the farm on a series A investment? It starts with the four founders: Tom, Chris, PJ and Scott. They had a vision for a new way to develop software and created a new kind of company to pursue it. With only a handful of people in sales and marketing, the four grew the company to over 100 people, while growing revenue at nearly 300 per cent annually—and profitably nearly the entire way.”

The company, which provides an online resource for software programmers,  has achieved much success without any outside investment. Tom Preston-Werner, CEO of GitHub, answered the inevitable question, “so why bother?”

“Because we want to be better,” he said. “We want to build the best products. We want to solve harder problems. We want to make life easier for more people. The experience and resources of Andreessen Horowitz can help us do that.

“Marc’s venture firm, Andreessen Horowitz, is younger than GitHub. And like GitHub, they’re trying to do things differently. They believe in software as the future of everything. They want to help founders build great companies. They clearly have no interest in the status quo of venture capital.

“Over the past few months we’ve gotten to know Marc and one of his partners, Peter Levine, and we really like them. We wish we could hire them both, but they already have jobs. So instead we’re going to work with them through their firm.”

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