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May 18, 2006
Koders Gets Cash for Open Source Code Search
Just when you thought all the ideas for search engines were taken, Koders, Inc. gets funded. The two-and-a-half-year-old, Santa Monica (Calif.)-based company has already made a name for itself among open-source hackers, who use its search engine to scour through 225,816,744 (and counting) lines of open source code. Koders offers a free version of its service, a paid subscription version with extra goodies, and an "enterprise" license for corporate software development teams. Additional revenue comes from banner ads on search results pages and sales of search data to marketers. Founder and CEO Darren Rush is a veteran programmer who developed the engine for his crew and then decided to market it. Koders raised $760,730 this month in a sale of series A preferred stock. Investors: The Founders Fund, a San Francisco-based VC partnership run by PayPal co-founders Peter Thiel and Ken Howery; Gil Penchina, VP and GM of eBay's international business and an angel investor (Penchina is also on Koders' board); and Payman Pouladdej, Atlanta-based founder and CEO of software company Softblox, Inc.
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