Red Hat Becomes the First Billion Dollar Open Source Company
By on September 23rd, 2010

Open Source has been a much advocated part of the tech industry and is extremely popular for its ideology. However, there was a general belief of lack of profits from Open Source business and there was no top-notch Open Source company to prove this wrong.

redhat-logo

Red Hat is out to set a record by becoming the first billion dollar Open Source Company in the world leaving Oracle behind in the competition. Almost 20% of the one billion alone comes from this quarter’s profits and Red Hat is performing remarkably well in its business. The overall revenue itself has increased by 20% and Red Hat is showing signs of immense growth.

The closest competitor Oracle’s cheap stunts have failed to impress customers enough. We all know of the cheap RHEL knockoff  it was trying to sell. Oracle is doing it once again and this time, it has claimed that the new Linux it has developed is 75% faster than RHEL. However, we know how benchmarks can be manipulated and I mean technically.

Charlie Peters, Red Hat’s Executive VP and CFO says,

Our revenue and operating income growth continued this quarter with strong double digit gains in both, despite the foreign currency head wind. It is clear that our value proposition is resonating with customers.

It feels god to see that at least one Open Source company is going strong.

(Source)

(Image)

Tags: , ,
Author: Chinmoy Kanjilal Google Profile for Chinmoy Kanjilal
Chinmoy Kanjilal is a FOSS enthusiast and evangelist. He is passionate about Android. Security exploits turn him on and he loves to tinker with computer networks. He rants occasionally at Techarraz.com. You can connect with him on Twitter @ckandroid.

Chinmoy Kanjilal has written and can be contacted at chinmoy@techie-buzz.com.
 
Copyright 2006-2012 Techie Buzz. All Rights Reserved. Our content may not be reproduced on other websites. Content Delivery by MaxCDN