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DNN Blog
Nov
26
Posted by:
Shaun Walker
11/26/2008
Earlier this week we announced that DotNetNuke has raised venture capital from a syndicate of tier 1 venture capital firms, August Capital and Sierra Ventures. Considering the current state of the global economy, this announcement is a huge vote of confidence in our product and community, and a testament to the global impact we have made on the industry. It means that DotNetNuke Corporation is now going to be able to deliver on its promise of rapidly innovating the DotNetNuke platform and creating new opportunities for participants in our ecosystem.
So the first questions are probably: "How much?" and "What are you going to do with it?". Well, we're not going to provide details of the amount raised, other than its market rate for a project of our size and stature. Rather than boast about the valuation, we prefer to remain in stealth mode and focus on delivering exceptional value to the market. We are going to strengthen the company and offer products and services that increase DotNetNuke adoption worldwide. The funding allows us to recruit expert resources, establish a physical presence, purchase equipment, and create a sales and marketing team. Rapidly growing a dominant software platform is not cheap, especially if you have a very large vision.
Our fundraising journey began 18 months ago and it has been an incredible educational experience. Meeting with some of the best and brightest minds in commercial open source definitely helped us hone our business plan, our goals, our messaging, and prepare us for the future. I am really proud that we were able to attract such high quality investors and advisors, people that intimately understand the development and distribution benefit of the open source model and are willing to work with us to achieve much greater success.
Now that the money is in the bank, our first task is to solidify our operating plan for the next year and then acquire the resources necessary to execute on the plan. Strategic focus will be applied to the DotNetNuke web application framework, professional products and services, the DotNetNuke Marketplace, and evangelizing and building greater awareness for DotNetNuke worldwide.
Overall, I think there has never been a time of greater potential in the DotNetNuke community. I am proud of what we have accomplished and look forward to the next step in our journey.
9 comment(s) so far...
Re: DotNetNuke Raises Venture Capital
Great news! Congratulations from Sweden.
Jan
By Jan Olsmar on
11/26/2008
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Re: DotNetNuke Raises Venture Capital
The excitement continues to grow! I look forward to the next year of DNN growth and beyond!
By Chris Hammond on
11/26/2008
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Re: DotNetNuke Raises Venture Capital
Congrats to DNN Corporation, this is very exciting indeed. 2008 ends with a bang, and I cannot wait to see what 2009 brings.
By Shawn Mehaffie on
11/27/2008
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Re: DotNetNuke Raises Venture Capital
Congratulations Sean and the rest of the team. I have just recently resigned my position at a company to dedicate my business full time to DotNetNuke so this is exciting news.
By Richard Edwards on
11/27/2008
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Re: DotNetNuke Raises Venture Capital
This was awesome news and perfect timing since I was speaking at our .NET UG on What's New in Cambrian that very day. I took my bugle along with me as a prop for announcing the news. Unfortunately, we meet in a public library, so I had to just pretend to play it.
By Don Worthley on
11/28/2008
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Re: DotNetNuke Raises Venture Capital
That's awesome! Keep up the great work!
By Bjarte Haram on
11/28/2008
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Re: DotNetNuke Raises Venture Capital
Congratulations on getting the funding, this is obviously a great thing for the people in DNN Corp, and sure has the potential to be a great thing for the DNN community as a whole as well.
Cheers
By Bjørn Vasbotten on
12/1/2008
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Re: DotNetNuke Raises Venture Capital
Congrats! But does your business plan include DNN not being free anymore? Because afaik VCs want to know how they'll get their money back asap..
By Tominator on
7/5/2010
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Re: DotNetNuke Raises Venture Capital
There will always be a free, open source version of DNN. Our investors completely understand the value of a large, vibrant community.
By Shaun Walker on
7/5/2010
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