Citus Data, which works on Postgres database technologies, announced that it will donate 1 percent of its equity to non-profit PostgreSQL organizations in the US and Europe. Their aim is to support the growth, education, and future innovation of the open-source Postgres database in both the US and in Europe.
The company is also joining the Pledge 1% movement which provides a platform where companies can take a pledge to give back to the community. They have four options, Pledge 1% of equity, time, product, or profit.
Citus Data basically creates an extension to Postgres that transforms PostgreSQL into a distributed database. Citus Data CEO Umur Cubukcu said, “You can contribute to open source in different ways. You can open source software you’ve created, you can maintain certain features and projects, and you can contribute to events with speakers and sponsorships—all of which our team spends a lot of time on. We are excited to create a new way to contribute to open source, by this donation.”
According to Ozgun Erdogan, one of Citus Data founders “This 1% stock donation is a way for us to give back and to share a piece of our future success. And we believe the donation will make a real difference to future projects in the Postgres community.”
RedMonk analyst and co-founder James Governor said, “Citus Data is both making an innovative bet, and paying it forward, by applying the 1% Pledge model to underpin the renaissance of the Postgres community“.
Magnus Hagander, open source advocate, PostgreSQL core team member, and president of PostgreSQL Europe says “What do I think about this donation of 1 percent equity from the team at Citus Data? I think it’s a generous way to support the PostgreSQL community, and shines a light on the importance of supporting open source projects that underpin so many products and companies today.”
Read more about the news on Citus Data blog.