All articles tagged with #hashicorp
IBM plans to cut thousands of jobs this quarter as it shifts focus towards higher-growth software and services, particularly expanding its software division fueled by acquisitions like Red Hat and HashiCorp, while maintaining overall US employment levels.
HashiCorp, a cloud computing software provider, is reportedly exploring options including a potential sale, and has been working with a financial adviser to gauge interest from potential buyers. The San Francisco-based company has already held exploratory talks with other industry players.
HashiCorp's shares surged 12% in extended trading following reports that the software developer is exploring a potential sale, with an outside firm engaged to gauge interest from potential buyers. The company's stock has struggled since its late 2021 Nasdaq debut, currently trading 67% below its IPO price, and its latest quarter saw a slowdown in revenue growth to 15%. CEO David McJannet acknowledged the company's need to catch up in its growth cycle, while co-founder Mitchell Hashimoto recently announced his departure from the company.
The battle between open source and "sort of" open source is not a new phenomenon. Companies have been taking open source code and either transforming it into proprietary software or cloaking it in a proprietary wrapper for years. This includes erasing licenses, shifting rules, and creating open core or source-available models. Recent examples include HashiCorp's switch from the Mozilla Public License to the Business Source License, MongoDB's adoption of the Server Side Public License, and Elastic's move away from the Apache 2.0 license. Red Hat has also faced criticism for restricting the use of its Red Hat Enterprise Linux code. While these moves have sparked controversy, they have proven to be successful business strategies, driven by a desire for more profit. The tension between making money and adhering to open source principles continues to be a challenge in the software industry.