StarZero All shows Try the podcast clipper →

Sid Sijbrandij

Co-founder & Executive Chair, GitLab Inc. · 2 appearances on the record.

computed by AI from the episodes · how this works → · full disclaimer →

founderexecutiveinvestor@sytses ↗LinkedIn ↗sytse.com ↗

Sijbrandij co-founded GitLab in 2012, pioneering an all-remote workforce and open-core model to take the DevSecOps platform public on Nasdaq in 2021 before transitioning from CEO to Executive Chair in 2024. Beyond GitLab, he established Open Core Ventures to back open-source founders and launched the AI coding platform Kilo Code.

38statements → 23claims → 9claims resolved → 89%fully supported → 3.92/5average certainty → 1.29/5average debate potential → ≈4.5/5argument clarity, estimated → 18said about them ↓

8 supported 0 partly supported 1 contradicted 3 not yet assessed 11 not checkable as stated how the 23 claims stand · each chip opens the sources

3 predictions · 20 assertions · 3 insights · 12 disclosures · every statement was checked. The predictions and assertions are the 23 claims: statements the public record can support or contradict. 9 are resolved, 3 are not yet assessed, and 11 name no date, number or outcome precise enough to check. Everything else (opinions, insights, what ifs, disclosures) can never be settled by the record, so it carries no assessment.

The record, in short

What the tape says about how Sid argues and how the claims held up. Everything they said, and everything said about them, is in the tabs below.

Their most notable supported claim

Prediction Held up
GitLab plans to go public in 2021
“Our plan is to become a public company next year.”
Sid Sijbrandij Jul 24, 2020 ▶ 3:30 GitLab Hits $2.7b Valuation is 20x+ Revenue Multiple, 160%+ in Net Revenue Retention, 10,000 Customers

Their most notable contradicted claim

Assertion Contradicted
GitLab is growing top-line revenue at 140% year-over-year
“I think last time we talked, we were closer to 200%. And I think we're at 1:40 today.”
Sid Sijbrandij Jul 24, 2020 ▶ 20:07 GitLab Hits $2.7b Valuation is 20x+ Revenue Multiple, 160%+ in Net Revenue Retention, 10,000 Customers

Expressed certainty vs assessment result

none yet certainty 1
none yet certainty 2
67% certainty 3
100% certainty 4
100% certainty 5

weighted support: a fully supported claim counts one, a partly supported claim counts half. Each filled bar is clickable and opens exactly those claims; "none yet" means nothing said at that certainty level has resolved yet

How they sound: not measured why? →

We measure speaking style by listening to the audio itself, and a fair number needs at least 2,000 words from one person on tape we have measured. There is too little of Sid Sijbrandij on measured tape to publish a rate. This says nothing about how they speak.

Everything Sid Sijbrandij said on Top Founders that made the record, most notable first. Filter by type, assessment or year in the ledger →

Prediction Held up
GitLab plans to go public in 2021
“Our plan is to become a public company next year.”
Sid Sijbrandij Jul 24, 2020 ▶ 3:30 GitLab Hits $2.7b Valuation is 20x+ Revenue Multiple, 160%+ in Net Revenue Retention, 10,000 Customers
Insight
Startups should always maintain infinite runway without future funding
“Always make sure that you can get back to cash flow break, even with the cash you have in the bank. Never depend on a future fundraise.”
Sid Sijbrandij Jul 24, 2020 ▶ 19:51 GitLab Hits $2.7b Valuation is 20x+ Revenue Multiple, 160%+ in Net Revenue Retention, 10,000 Customers
Insight
Sijbrandij: ARR is a vanity metric; track incremental ACV instead
“I think ARR is, is a vanity graph. If you're a subscription business, you should look at incremental ACV and that's the number we use throughout the company.”
Sid Sijbrandij Oct 27, 2018 ▶ 10:37 1190 The 1 Metric GitLab CEO Follows Thats Driven $10m+ in ARR
Assertion Not checkable as stated
GitLab's 270 fully remote employees work across 270 distinct locations
“We have 270 people working from 270 locations.”
Sid Sijbrandij Oct 27, 2018 ▶ 13:47 1190 The 1 Metric GitLab CEO Follows Thats Driven $10m+ in ARR
Assertion Supported
GitLab raised $268M at a $2.75B post-money valuation
“We raised two hundred sixty eight million dollars in our last round at a post valuation of two dot seven five billion.”
Sid Sijbrandij Jul 24, 2020 ▶ 2:20 GitLab Hits $2.7b Valuation is 20x+ Revenue Multiple, 160%+ in Net Revenue Retention, 10,000 Customers
Disclosure
GitLab priced its secondary at the preferred round price
“The price was the same as the Preferred price of the round.”
Sid Sijbrandij Jul 24, 2020 ▶ 5:08 GitLab Hits $2.7b Valuation is 20x+ Revenue Multiple, 160%+ in Net Revenue Retention, 10,000 Customers
Assertion Not publicly verifiable
Enterprise deals account for 72% of GitLab's ARR
“The enterprise market is 72% of our ARR, and those are the bigger deals.”
Sid Sijbrandij Jul 24, 2020 ▶ 9:58 GitLab Hits $2.7b Valuation is 20x+ Revenue Multiple, 160%+ in Net Revenue Retention, 10,000 Customers
Prediction Held up
GitLab will not cross $200M ARR in 2020
“So certainly not this year. Maybe next year.”
Sid Sijbrandij Jul 24, 2020 ▶ 10:56 GitLab Hits $2.7b Valuation is 20x+ Revenue Multiple, 160%+ in Net Revenue Retention, 10,000 Customers
Assertion Supported
GitLab net expansion is tracking well north of 150%
“Net expansion has been absolutely amazing and it's way north of a 150% and a 150% would already be kind of best in class if you look at public companies.”
Sid Sijbrandij Jul 24, 2020 ▶ 12:31 GitLab Hits $2.7b Valuation is 20x+ Revenue Multiple, 160%+ in Net Revenue Retention, 10,000 Customers
Prediction Held up
GitLab expects net retention to drop as initial deals grow larger
“We expect the number to come down. So I'm not going to give the number today because we're doing a better and better job at landing a bigger initial deal.”
Sid Sijbrandij Jul 24, 2020 ▶ 14:32 GitLab Hits $2.7b Valuation is 20x+ Revenue Multiple, 160%+ in Net Revenue Retention, 10,000 Customers
Disclosure
GitLab targets 80% of sales reps hitting full quota
“We want our goals to have 80% of our salespeople on a hundred percent or more of quota.”
Sid Sijbrandij Jul 24, 2020 ▶ 17:41 GitLab Hits $2.7b Valuation is 20x+ Revenue Multiple, 160%+ in Net Revenue Retention, 10,000 Customers
Assertion Contradicted
GitLab is growing top-line revenue at 140% year-over-year
“I think last time we talked, we were closer to 200%. And I think we're at 1:40 today.”
Sid Sijbrandij Jul 24, 2020 ▶ 20:07 GitLab Hits $2.7b Valuation is 20x+ Revenue Multiple, 160%+ in Net Revenue Retention, 10,000 Customers
Disclosure
GitLab budgeted $50M for product development in 2020
“This fiscal, we're spending fifty million dollars in development costs, like engineers shipping more functionality in the product.”
Sid Sijbrandij Jul 24, 2020 ▶ 21:31 GitLab Hits $2.7b Valuation is 20x+ Revenue Multiple, 160%+ in Net Revenue Retention, 10,000 Customers
Disclosure
Sid Sijbrandij gave $1M to Lambda School for student stipends
“I gave money to them. I gave a million bucks to him.”
Sid Sijbrandij Jul 24, 2020 ▶ 23:53 GitLab Hits $2.7b Valuation is 20x+ Revenue Multiple, 160%+ in Net Revenue Retention, 10,000 Customers
Insight
Sijbrandij: Open source communities accept monetization if stewarded properly
“I don't think that open source communities are against dollar signs, but what they do want to see is you being a good steward of the project and acting in the interest of the project. And that's a balance. That's a balance between things that generate revenue,…”
Sid Sijbrandij Oct 27, 2018 ▶ 2:48 1190 The 1 Metric GitLab CEO Follows Thats Driven $10m+ in ARR
Assertion Not checkable as stated
New GitLab buyers increasingly purchase directly without first using open source
“It used to be like that, that most of the people were coming in already using the open source, but we're seeing more and more people that have not used GitLab before that really want to modernize their DevOps workflow. They want to modernize how they do engine…”
Sid Sijbrandij Oct 27, 2018 ▶ 7:16 1190 The 1 Metric GitLab CEO Follows Thats Driven $10m+ in ARR
Assertion Not checkable as stated
GitLab doubled its incremental ACV every year for five straight years
“In the last five years, we've doubled our incremental ACV every single year, and we're on track to do that.”
Sid Sijbrandij Oct 27, 2018 ▶ 7:59 1190 The 1 Metric GitLab CEO Follows Thats Driven $10m+ in ARR
Disclosure
GitLab ignores deal size and targets doubling incremental ACV yearly
“So sales speech in sales, we don't talk about deal size. Like even it's a multi-year deal, even if it's all cash upfront, we look at that. Incremental ACV number for any deal. If it's just a renewal, you didn't actually gain anything. So we try to do that thro…”
Sid Sijbrandij Oct 27, 2018 ▶ 10:47 1190 The 1 Metric GitLab CEO Follows Thats Driven $10m+ in ARR
Assertion Not checkable as stated
GitLab achieves net revenue expansion exceeding 175% year over year
“Now, on a net expansion basis, it's over one 75%. So if they spend a hundred dollars with us last year, they're going to spend a 175 dollars with us this year, the same cohort.”
Sid Sijbrandij Oct 27, 2018 ▶ 12:20 1190 The 1 Metric GitLab CEO Follows Thats Driven $10m+ in ARR
Disclosure
GitLab allowed staff to sell 20% of vested shares in secondary
“And we said you could sell up to 20% of your vested shares, both current team members and ex-team members up to 20%.”
Sid Sijbrandij Jul 24, 2020 ▶ 4:46 GitLab Hits $2.7b Valuation is 20x+ Revenue Multiple, 160%+ in Net Revenue Retention, 10,000 Customers
Assertion Supported
GitLab has raised over $420M in primary capital
“We now raised 400, more than four hundred twenty million.”
Sid Sijbrandij Jul 24, 2020 ▶ 6:15 GitLab Hits $2.7b Valuation is 20x+ Revenue Multiple, 160%+ in Net Revenue Retention, 10,000 Customers
Assertion Supported
GitLab has 10,000 paying customers across 100,000 organizations
“So today, GitLab is used in over a 100,000 organizations. So we got millions of users. There's 10,000 paying customers.”
Sid Sijbrandij Jul 24, 2020 ▶ 8:32 GitLab Hits $2.7b Valuation is 20x+ Revenue Multiple, 160%+ in Net Revenue Retention, 10,000 Customers
Assertion Not checkable as stated
GitLab gross retention remains steady at approximately 90%
“No, gross retention or gross retention is still about 90%. So that's kept steady.”
Sid Sijbrandij Jul 24, 2020 ▶ 12:16 GitLab Hits $2.7b Valuation is 20x+ Revenue Multiple, 160%+ in Net Revenue Retention, 10,000 Customers
Assertion Not checkable as stated
Goldman Sachs expanded from 1,000 to over 5,000 GitLab users
“It's been amazing to see, for example, Goldman Sachs as a customer, and we came in and they said, look, if you're doing really well in nine months, we're going to be a thousand users. And then two weeks later, we're 1500 users. Now they're over 5000 users.”
Sid Sijbrandij Jul 24, 2020 ▶ 12:44 GitLab Hits $2.7b Valuation is 20x+ Revenue Multiple, 160%+ in Net Revenue Retention, 10,000 Customers

Show 14statements(14 left)

The other half of the tape: Sid Sijbrandij's own voice is left out of every number here. Other people bring the name up 17 times in 9 episodes on Top Founders. 1 statement on the record names them. every mention, with the transcript →

Who brings them up most Nathan Latka 12Mike Preuss 4Matt Mullenweg 1

Statements about Sid Sijbrandij, by other people (1)

Assertion Open · timeframe Nov 2019
Latka: GitLab raised $100M one month after denying fundraising
“And sure enough, a month after I do the interview, you know, GitLab raised a hundred million dollars.”
Nathan Latka Nov 25, 2019 ▶ 5:45 1584 Why 600 Companies Pay Him $150/mo To Help With VC Updates

Every mention by year

tap a year for its mentions
00428320182019202020212022episodesmentions
02320182019202020212022episodes it came up in
0021.54320182019202020212022episodesmentions per episode
2022 8 mentions in 3 episodes 3 per episode
2021 2 mentions in 2 episodes 1 per episode
2020 2 mentions in 2 episodes 1 per episode
2019 4 mentions in 1 episode
2018 1 mention in 1 episode

Appearances (2)

EpisodeDateSpeaking time
GitLab Hits $2.7b Valuation is 20x+ Revenue Multiple, 160%+ in Net Revenue Retention, 10,0 Jul 24, 2020 14m
1190 The 1 Metric GitLab CEO Follows Thats Driven $10m+ in ARR Oct 27, 2018 6m
Made with StarZero

Turn any episode into a week of clips.

This entire site, over 2,600 episodes transcribed, diarized, checked and made playable, runs on the StarZero media pipeline. Drop in your own episode and the podcast clipper finds the moments worth sharing, cuts them, captions them, and reframes them for every feed.

Try the podcast clipper Learn more