GitHub to Seek $2 Billion Valuation in Latest Funding Round

GitHub CEO on Andreessen's $100 Million Investment

GitHub Inc., a startup that helps companies and developers build software, is seeking to raise about $200 million in a new private-funding round, people familiar with the matter said.

The Series B round may value San Francisco-based GitHub about $2 billion, said the people, who asked not to be named because the process is still under way.

GitHub, founded in 2008, didn’t accept venture capital funds until Andreessen Horowitz contributed $100 million in 2012. The investment, which was the firm’s largest single deal at the time, valued GitHub at about $750 million, a person with knowledge of the deal said.

The company works as a social coding platform, where a software developer can display a project and others can contribute. The company says more than 8 million people use the service, and it charges monthly subscriptions to store programming source code.

A spokeswoman for GitHub declined to comment. A representative for Andreessen Horowitz didn’t immediately respond to a phone call and e-mail seeking comment.

A year ago, co-founder Tom Preston-Werner, left the company after accusations that he and his wife Theresa had engaged in gender-based harassment and discrimination. GitHub conducted an independent investigation that cleared the Preston-Werners of wrongdoing.

Bloomberg LP, the parent of Bloomberg News, is an investor in Andreessen Horowitz.

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