git commit -m 'Add $200m to GitHub, tweak valuation to $2bn'

San Francisco upstart in series-B round

Code-sharing website GitHub is pursuing a new round of venture capital based on a US$2bn (£1.26bn) valuation.

Bloomberg cited sources familiar with the matter in reporting that GitHub is in the middle of a series-b funding push to raise US$200m in capital.

That dosh would give investors a 10 per cent stake in the company under a company valuation of US$2bn. GitHub declined to comment on the report.

GitHub, founded in 2008, has always fancied itself as something more than a storage space for coders. The site has set its sights on the social networking space with the intent to establish itself as a networking site for developers.

In 2012, GitHub rounded up US$100m in venture capital investment from Andreessen Horowitz as the site pitched itself as a social networking hub and not just a place for devs to dump code. Developers can store code for free in public repositories, while private repositories command a monthly fee ranging from US$7 for individual users to US$200 for platinum enterprise plans.

GitHub just scored a major client win when it nabbed Microsoft's Roslyn project for hosting duties.

The site has also seen its share of controversy since it started accepting VC funds in 2012. Last year, developer Julie Horvath quit her job at GitHub amid allegations of mistreatment and sexism.

The issue eventually resulted in the resignation of GitHub cofounder and CEO Tom Preston-Werner. ®

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