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Red Hat now first multi-billion dollar open-source company

Red Hat posts huge numbers this fiscal year, becomes first multi-billion dollar open-source company

Sean Ridgeley | Mar 23, 2016 at 2:25 pm CDT (0 mins, 40 secs time to read)

There's a lot more money to be made from Linux and open-source software than you probably realized: Red Hat just became the first open-source company to make $2 billion. This isn't the first time it's set a record, either: four years ago it became the first Linux company to make $1 billion. All this without relying on venture capitalists, no less.

Red Hat now first multi-billion dollar open-source company | TweakTown.com

Red Hat president and CEO Jim Whitehurst says "enterprises increasingly adopting hybrid cloud infrastructures and open source technologies" are largely responsible for the big numbers. In hard terms, Red Hat Enterprise Linux and cloud operating system RHEL are doing better than ever subscription-wise.

The company expects to make between $2.38 and $2.42 billion in the 2016 fiscal year; if this keeps up, they'll set another record in short order.

Last updated: Apr 6, 2020 at 04:51 pm CDT

Sean Ridgeley

ABOUT THE AUTHOR - Sean Ridgeley

Sean has a background in journalism, and has been using that to write about gaming and tech since 2008 - first for Neoseeker, then Rage3D, and now, TweakTown. As News Editor, Sean's job is to supply regular stories on the latest happenings in the tech world. He also writes tweak guides to help you get the most out of your PC games and hardware.

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