The term “Open Source” first appeared in the context of software development to describe
A particular approach to creating software applications. Almost every big organization uses open-source software, either directly or indirectly. “Open source” now refers to a broader set of values, which we refer to as “the open-source way.” The principles of open exchange, collaborative participation, rapid prototyping, transparency, meritocracy, and community-oriented development are embraced and celebrated by open-source projects, products, or initiatives.
Users with open-source access can restore broken links, update the design, and improve the original code. An open-source company’s business model is quite different from that of a traditional software company. First and foremost, the revenue line is distinct. In general, a closed-source software company can charge more per unit than an open-source company. Another significant advantage of open-source businesses is their far more efficient and viral go-to-market movement. Some of the best open-source companies have been able to grow their businesses at triple-digit growth rates for most of their lives while maintaining low cash burn rates.