2021 Global Tech Unicorns Overview and Ukrainian Tech Unicorn — GitLab KellyOnTech

2021 Global Tech Unicorns Overview

Venture capitalist Eileen Lee coined the term “unicorn” to describe any privately held startup valued at $1 billion or more. In 2021, investment institutions have funded a total of 837 unicorn companies worldwide, with a combined valuation of more than $2.7 trillion US dollars.

Image source: Eqvista.com

GitLab — A Tech Unicorn in Ukraine

GitLab is an open source project for a warehouse management system, using Git as a code management tool and building a web service on this basis. It is headquartered in San Francisco. Its enterprise users include Alibaba, IBM and SpaceX.

Image source: CNBC, Co-Founders of GitLab (from Left to right) Sid Sijbrandij and Dmitriy Zaporozhets
Image source: NGP Capital

The entrepreneurship story of GitLab

GitLab started when its co-founder Dmitriy Zaporozhets needed to develop tools to work with his team in 2011. He felt that a collaboration tool for programmers should be open source so that everyone could contribute to it. GitLab was originally written in Ruby, and in a year, Dmitriy made over 300 iterations of GitLab. But later the performance-sensitive parts were rewritten in Go.

What’s the business model of GitLab?

At first they relied on donations, $7 per person per month, but didn’t raise enough money to run the project. Then they decide to charge for some functions. They decided to choose the core parts to always be free and open source for individual contributors. For corporate customers, different rates were established depending on the rank of employees. In addition, the company has also launched a subscription plan to provide customers with more features and support.

Assistance Program for Ukrainian Businesses — B2B local networking from 2Event.com

2Event.com is the only online event platform in Ukraine, offering a free mobile application for event organizers and participants. It provides one-stop service for event organizers from scheduling, ticket sales to entrance registration. You can view it as an enhanced version of Eventbrite, with a website, mobile APP, video streaming and social functions. So far, it has sold more than 1.2 million tickets and has more than 600,000 users.

Image source: 2Event.com
Image source: 2Event.com

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KellyOnTech

KellyOnTech

Investor / Founder at Mans International