User:InfrastructureForever/draft
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Proposed Draft History Section
HashiCorp was founded in 2012 by two classmates from the University of Washington, Mitchell Hashimoto and Armon Dadgar.[1] Cofounder Hashimoto was previously working on open-source software called Vagrant, which became incorporated into HashiCorp.[2] The cofounders also developed several other open-source projects besides HashiCorp.[3] By 2018, HashiCorp's open-source software tools had been downloaded 45 million times.[4]
HashiCorp raised $349.2 million in venture capital investments over five funding rounds.[5] This included a $100 million investment in 2018 that valued the business at $1.9 billion,[6] and a $175 million 2020 investment in its fifth funding round valuing HashiCorp at $5.1 billion.[5][7] According to the company, it was growing quickly, doubling its sales each year for four years.[7] It grew 75% in 2021 compared to the prior year.[8]
Around April 2021, a supply chain attack using code auditing tool codecov allowed hackers limited access to HashiCorp's customers networks.[9] As a result, private credentials were leaked. HashiCorp revoked a private signing key and asked its customers to use a new rotated key.
On 29 November 2021, HashiCorp set terms for its IPO at 15.3 million shares at $68-$72 at a valuation of $13 billion.[10] It offered 15.3 million shares.[5] By this time, the company had 2,392 customers, but was not yet profitable.[8][11] HashiCorp considers its workers to be remote workers first rather than coming into an office on a full-time basis.[12]