Bachelor's and Master's in CS from MIT. Previously, worked @ Microsoft & Zynga. Currently Co-Founder of Moesif (moesif.com), the most advanced API analytics platform.
I think most open source companies have that model. Open source to get follower and users. Once enough adoption then there are two approach to generate revenue: (after all, a startup is a business):
some have a non open source version that have more features. (For example, Kong have an enterprise version that isn't open source)
provide Consulting, Training, and Service Level Agreements that big enterprise companies require (for this, sometimes there are multiple competing companies that serve the same open source product, like Horton Works and Cloudera before they decide to merge with each other rather than competing against each other.).
Max is a life enhancer for tech & entrepreneurship. Which seeks to blend both to build innovative products or services for the world that solves hard problems.
I think most open source companies have that model. Open source to get follower and users. Once enough adoption then there are two approach to generate revenue: (after all, a startup is a business):
Yup, it's actually one of the popular & successful Red Hat open source business models that I had encountered so far.
There's also another one which is the Dev community that goes for merchandise store and sponsorships for their website besides VC funding.