VMware is buying Bitnami, a San Francisco-based startup that makes pre-packaged software apps. The price of the deal was not disclosed.
The Bitnami founders said they decided to sell after realizing that they would have had to raise venture capital cash to keep growing — the company had only raised a scant $1.1 million in seed funding, and thought that going after more investment capital would be risky.
Buying Bitnami boosts VMware’s pursuit of a multi-cloud strategy.
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VMware is buying Bitnami, the maker of pre-packaged applications for the cloud, after the startup’s founders decided that it was risky to keep going without raising more money.
Financial terms of the deal were not disclosed.
The San Francisco-based Bitnami makes software app packages that make it easier for developers to build services in different cloud formats. It got started with help from angel investors and the famed Y Combinator startup accelerator, and grew to become a profitable business. All told, Bitnami only raised $1.1 million — practically nothing compared to the hundreds of millions and billions of venture capital dollars invested in companies like Uber or WeWork.
However, founders Daniel Lopez and Erica Brescia knew they needed more …read more
Source:: Businessinsider – Tech