Former BEA executives launch open source company

And they say that Open Source is nothing but trouble, ha! Today I read about a new start-up company in my very own Seattle (Northern WA myself) that is using Open Source as their business model. And let me be clear, these guys are not selling turnips either. Especially not when they were funded with $3.5 million in venture funding. Check out the details below.

Byron Sebastian, Will Pugh and Cornelius Willis have all surfaced as founders of SourceLabs Inc.. which on Monday announced it had received $3.5 million in venture funding, including an investment from Ignition Partners. Ignition managing partner Brad Silverberg will sit on the startup’s board. Silverberg was formerly a senior vice president at Microsoft SourceLabs’ Sebastian formerly was vice president and general manager of BEA’s WebLogic Portal and Workshop divisions. Pugh and Willis served, respectively, as principal technologist and vice president of developer marketing.