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FINANCIAL | Credit & Collections
aven.com

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Founded Year

2019

About Aven

Aven provides a credit card that utilizes the rates of a home equity line.

Aven Headquarter Location

San Francisco, California,

United States

Latest Aven News

Open-Source Startup Aiven Raises $60 Million in New Funding

Oct 20, 2021

October 20, 2021 - Advertisement - Aven co-founder and CEO Oskari Saarenma said he plans to use the additional funds to expand the company’s global footprint, which currently includes about 700 customers in 50 countries. He said a Singapore office is set to open this year as part of a wider move into Asia-Pacific markets. - Advertisement - Mr. Saarenma and a small team of software engineers launched the startup in Helsinki about five years ago. Today, it has over 200 employees around the world. A result of the collaborative spirit of software development in the early days of the Web, open-source developers made software available for free, enabling programmers to modify, share, or build new apps from the underlying source code without paying a license fee. . - Advertisement - Examples include the Android operating system, the Firefox browser, and the Python computer language. By allowing companies to use each other’s software independently – with few restrictions – open-source systems provide interoperability while promoting innovation. Vendors such as Aven may charge for additional services or enterprise-grade features. Aven helps companies manage open-source projects on public cloud platforms. It enables CIOs and other corporate information-technology leaders to access computer code, data and other resources from anywhere—a key advantage during the Covid-19 lockdown and remote working. Mr. Saarenma said that the open source community is in a transformational phase. Many IT vendors who originated as open-source developers are banning their own software licenses—the decisions they say are short-sighted and profit-driven. “This has formed an industrywide myth that claims that open-source business models are no longer sustainable,” he said. David Mutter, a senior analyst at IT research firm Forrester Research Inc., Agreed business model is working fine. “I haven’t seen a decline in open source,” he said. “If anything, its use is likely to increase.” In a historic legal battle, the US Supreme Court ruled earlier this year that Alphabet Inc. NS Google didn’t infringe copyright protection by using Oracle’s bits Corporation -Proprietary Java computer code to enable your Android mobile operating system to connect to other software. Sun Microsystems Inc., which created Java as free and open source software, was acquired by Oracle in 2010. Some of the world’s largest technology companies have embraced open-source software development in recent years. international business system Corporation In July 2019 Red Hat Inc. One of the largest open-source developers in the world. Exactly a year ago, Microsoft Corporation The acquired software-code repository GitHub Inc. “The current state of open source is still hot and we haven’t seen a slowdown in enterprise support for open source companies,” said Kelly Mak, a partner at venture-technology-focused venture-capital firm Work-Bench. The firm is not an investor in Aven. He quoted VMware as saying, “In an era of building a community and developing mindshare and goodwill in an era of developer-driven software adoption, I would only imagine open source embracing even more.” Inc. and Microsoft as high-profile advocates. Aven’s Mr. Saarenma said the company’s $2 billion valuation is proof of that. “When the other co-founders of Aven and I set out to solve a challenge facing developers around the world, I knew this business had great growth potential,” he said. “It’s still an exciting and humbling milestone.”

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CB Insights Intelligence Analysts have mentioned Aven in 1 CB Insights research brief, most recently on Dec 10, 2020.

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