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RustDesk Welcomes New Leadership: Introducing New CEO
Commercializing Open Source Software is the future
Thrilled to announce that RustDesk has appointed Joseph Jacks as its new CEO!
Six months ago, I discussed RustDesk in my post titled “The Bronze Age of RustDesk.”
The rise of hybrid work and the open source foundation the company is built upon provides the potential for this company to grow faster than the competition.
The majority of COSS companies have built their business model in a way that allows them to capture part of the value that is delivered by their open source core product, bring in alternative license options and bundle on add-on proprietary software.
Initial Funding: Founding seed led by @OSSCapital nearly 2 years ago. No additional funding rounds have been discussed at this time.
Popularity: RustDesk is the most popular open source remote/virtual access platform globally.
Leadership: Core project led by founder/CTO Zhou Huabing.
Product Launch: Launched a paid commercial product for self-hosted installs.
Revenue Growth: Achieved $1M in Annual Recurring Revenue (ARR) from zero revenue in less than 45 days of product launch.
Customer Growth: Acquired over 300 paying customers.
Market Size: The Remote Desktop market is valued at over $30B.
A language of its own: The hardest part about creating software is not writing code—it's creating the requirements. RustDesk is uniquely positioned because the entire program is written in its own coding language Rust. Rust is used for three essential purposes in programming; performance, safety, and memory management.
Future Potential: We see the market as ripe for Commercial Open Source Software (COSS) disruption.
Future Leadership Transition: Joseph plans to replace himself in the CEO role in less than a year.
Thank you for reading.
I am grateful and humbled to be able to learn, grow and invest alongside you at Tuttle Ventures.
Vision, Courage, and Patience leads to successful investing.
Darin Tuttle, CFA
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