Proposed Draft History Section
editHashiCorp was founded in 2012 by two classmates from the University of Washington, Mitchell Hashimoto and Armon Dadgar.[1] Cofounder Hashimoto was previously working on open-source software called Vagrant, which became incorporated into HashiCorp.[2] The cofounders also developed several other open-source projects besides HashiCorp.[3] By 2018, HashiCorp's open-source software tools had been downloaded 45 million times.[4]
HashiCorp raised $349.2 million in venture capital investments over five funding rounds.[5] This included a $100 million investment in 2018 that valued the business at $1.9 billion,[6] and a $175 million 2020 investment in its fifth funding round valuing HashiCorp at $5.1 billion.[5][7] According to the company, it was growing quickly, doubling its sales each year for four years.[7] It grew 75% in 2021 compared to the prior year.[8]
Around April 2021, a supply chain attack using code auditing tool codecov allowed hackers limited access to HashiCorp's customers networks.[9] As a result, private credentials were leaked. HashiCorp revoked a private signing key and asked its customers to use a new rotated key.
On 29 November 2021, HashiCorp set terms for its IPO at 15.3 million shares at $68-$72 at a valuation of $13 billion.[10] It offered 15.3 million shares.[5] By this time, the company had 2,392 customers, but was not yet profitable.[8][11] HashiCorp considers its workers to be remote workers first rather than coming into an office on a full-time basis.[12]
References
edit- ^ Wang, Echo (December 8, 2021). "Software maker HashiCorp raises $1.2 billion in U.S. IPO - source". Reuters. Retrieved May 23, 2023.
- ^ Braunton, A. (2018). Hands-On DevOps with Vagrant: Implement end-to-end DevOps and infrastructure management using Vagrant. Packt Publishing. p. 8. ISBN 978-1-78913-678-4. Retrieved May 23, 2023.
- ^ Marvin, Rob (February 26, 2015). "Mitchell Hashimoto is automating the world". SD Times. Retrieved May 23, 2023.
- ^ Miller, Ron (November 1, 2018). "HashiCorp scores $100M investment on $1.9 billion valuation". TechCrunch. Retrieved May 23, 2023.
- ^ a b c Donovan, Kevin (November 30, 2021). "HashiCorp (HCP) launches IPO at $68-$72 to raise $1.10bn". Capital.com. Retrieved May 23, 2023.
- ^ Schlosser, Kurt (May 1, 2019). "Young founder of cloud unicorn HashiCorp giving back to Univ. of Washington with millions in scholarship aid". GeekWire. Retrieved May 23, 2023.
- ^ a b Crichton, Danny (March 17, 2020). "HashiCorp soars above $5B valuation in new $175M venture round". Yahoo Finance. Retrieved May 23, 2023.
- ^ a b "HashiCorp IPO Could Value Startup at $13B". CFO. November 30, 2021. Retrieved May 23, 2023.
- ^ "HashiCorp revoked private key exposed in Codecov security breach". VentureBeat. 2021-04-26. Retrieved 2021-08-03.
- ^ Beltran, Luisa. "Cloud Software Provider HashiCorp Targets $13 Billion Valuation With IPO". Barrons. Barrons. Retrieved 30 November 2021.
- ^ Beltran, Luisa (November 30, 2021). "Software Provider HashiCorp Aims for $13 Billion IPO Valuation". Barron's. Retrieved May 23, 2023.
- ^ Novet, Jordan (2021-12-09). "HashiCorp shares rise after one of top software IPOs of 2021 values company at over $14 billion". CNBC. Retrieved 2021-12-21.