Microsoft's GitHub hits $1 billion in annual revenue

Microsoft’s internet-based storage service GitHub has reached $1 billion in annual revenue with over 90 million active users. The popular code repository service GitHub, which Microsoft acquired for $7.5 billion in 2018, has over 90 million active users. American technology company Microsoft has announced a series of new data for GitHub, the popular code storage service it acquired for $7.5 billion in 2018. The company, which offers software development teams an internet-based storage space where they can work simultaneously, announced that it has reached over 90 million active users and $1 billion in annual revenue. The company’s revenue was $28 million when the acquisition closed and $73 million last November. Microsoft CEO Satya Nadella said in a statement, “Since our acquisition, GitHub is now at $1 billion in annual recurring revenue, and GitHub’s original value to developers has never been stronger. More than 90 million people now use the service to build software for any platform, any cloud.” GitHub is a cloud-based service that hosts a version control system (VCS) called Git, which provides an internet-based storage space for software projects developed by teams. It allows developers to collaborate and make changes to common projects while tracking their progress in detail. Since it is an open source service, it is used and developed by many software teams.