Red Hat: The 1st billion-dollar open-source company?
Sep 23, 2010, 16:03 (0 Talkback[s])
(Other stories by Steven J. Vaughan-Nichols)
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"A few months back Glyn Moody, noted open-source
journalist, asked the question, "Why No Billion-Dollar Open Source
Companies?" Jim Whitehurst, Red Hat's CEO answered, "Red Hat could
get to $5 billion in due course, but that this entailed 'replacing
$50 billion of revenue' currently enjoyed by other computer
companies. Guess what? Red Hat is on its way.
"In its latest quarter, Red Hat's total revenue was $219.8
million, an increase of 20% from the year ago quarter. Red Hat
Enterprise Linux (RHEL) Subscription revenue for the quarter was
$186.2 million, up 19% year-over-year. I guess Oracle's attempt to
snatch Red Hat's business away with a re-branded RHEL really hasn't
"In a statement Whitehurst said, "We continued to benefit from
new project spending, expansion and cross selling of our product
solutions and strong renewals in our top accounts."