{
 "company": "hashicorp",
 "as_of": "2026-10-01",
 "choices": [
  {
   "id": "hashicorp-p01",
   "business": "Developer tools before the enterprise model (Vagrant, Packer and Atlas)",
   "category": "product",
   "dimension": "Initial job",
   "statement": "Vagrant scripted throwaway development environments in VirtualBox virtual machines, aimed at consultants who lost half a day setting up each client's project.",
   "event_date": "2010",
   "date_precision": "year",
   "evidence_kind": "participant_account",
   "sources": [
    "HC1"
   ]
  },
  {
   "id": "hashicorp-g01",
   "business": "Developer tools before the enterprise model (Vagrant, Packer and Atlas)",
   "category": "go_to_market",
   "dimension": "Growth before revenue",
   "statement": "Hashimoto grew Vagrant for about two years on its own to over a million downloads a year before charging; the first paid item was a VMware provider for Vagrant.",
   "event_date": "2012",
   "date_precision": "year",
   "evidence_kind": "participant_account",
   "sources": [
    "HC2"
   ]
  },
  {
   "id": "hashicorp-p02",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "product",
   "dimension": "Founding scope",
   "statement": "The founders set out to solve provisioning, service discovery, security and application deployment once, as open-source infrastructure tools, after seeing each company re-solve them.",
   "event_date": "2012-11",
   "date_precision": "month",
   "evidence_kind": "participant_account",
   "sources": [
    "HC23"
   ]
  },
  {
   "id": "hashicorp-p09",
   "business": "Developer tools before the enterprise model (Vagrant, Packer and Atlas)",
   "category": "product",
   "dimension": "Atlas",
   "statement": "Atlas packaged the tools as a hosted, end-to-end CI/CD-style pipeline; Dadgar later called it a shrink-wrapped version of the tools that contradicted their modular philosophy.",
   "event_date": "2014",
   "date_precision": "year",
   "evidence_kind": "participant_account",
   "sources": [
    "HC11"
   ]
  },
  {
   "id": "hashicorp-g02",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "go_to_market",
   "dimension": "Venture funding",
   "statement": "Mayfield led a $10.2 million Series A after a partner noticed rising download numbers and contacted Hashimoto.",
   "event_date": "2014",
   "date_precision": "year",
   "evidence_kind": "participant_account",
   "sources": [
    "HC9"
   ]
  },
  {
   "id": "hashicorp-p04",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "product",
   "dimension": "Terraform launch",
   "statement": "Terraform 0.1 shipped as open source supporting AWS and DigitalOcean, with a provider plug-in model meant to extend it to other infrastructure platforms.",
   "event_date": "2014-07",
   "date_precision": "month",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "HC5"
   ]
  },
  {
   "id": "hashicorp-p05",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "product",
   "dimension": "Plan before apply",
   "statement": "Terraform declared desired infrastructure and generated a reviewable change plan before applying it, working at the provisioning layer below configuration tools such as Chef and Puppet.",
   "event_date": "2014-08",
   "date_precision": "month",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "HC22"
   ]
  },
  {
   "id": "hashicorp-g04",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "go_to_market",
   "dimension": "Conference",
   "statement": "HashiCorp held its first HashiConf user conference in 2015.",
   "event_date": "2015",
   "date_precision": "year",
   "evidence_kind": "participant_account",
   "sources": [
    "HC7"
   ]
  },
  {
   "id": "hashicorp-g06",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "go_to_market",
   "dimension": "Segment decision",
   "statement": "After six to eight months debating whether to be an SMB business building 'Heroku 2.0' or an enterprise business, the founders chose enterprise.",
   "event_date": "2016",
   "date_precision": "year",
   "evidence_kind": "participant_account",
   "sources": [
    "HC11"
   ]
  },
  {
   "id": "hashicorp-g07",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "go_to_market",
   "dimension": "Per-tool enterprise products",
   "statement": "The founders told investors over a weekend and the company on Monday that they would sell smaller, focused enterprise products instead of the Atlas platform.",
   "event_date": "2016",
   "date_precision": "year",
   "evidence_kind": "participant_account",
   "sources": [
    "HC2"
   ]
  },
  {
   "id": "hashicorp-g08",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "go_to_market",
   "dimension": "Professional management",
   "statement": "The founders hired Dave McJannet as CEO and Rob Abbott as head of worldwide sales, saying selling was not their expertise.",
   "event_date": "2016",
   "date_precision": "year",
   "evidence_kind": "participant_account",
   "sources": [
    "HC10"
   ]
  },
  {
   "id": "hashicorp-p10",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "product",
   "dimension": "Vault Enterprise",
   "statement": "Vault Enterprise added a management UI, health monitoring, an initialization and seal workflow, hardware security module integration and policy validation on top of open-source Vault.",
   "event_date": "2016-09-07",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "HC19"
   ]
  },
  {
   "id": "hashicorp-g13",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "go_to_market",
   "dimension": "Reference customer",
   "statement": "SAP Ariba endorsed Vault Enterprise as the only offering meeting its requirements for one workflow across providers and dynamic secrets.",
   "event_date": "2016-09-07",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "HC19"
   ]
  },
  {
   "id": "hashicorp-p12",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "product",
   "dimension": "Provider program and Registry",
   "statement": "HashiCorp launched an official Terraform provider program and the Terraform Registry for sharing reusable modules.",
   "event_date": "2017",
   "date_precision": "year",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "HC5"
   ]
  },
  {
   "id": "hashicorp-g15",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "go_to_market",
   "dimension": "Cloud vendor partnership",
   "statement": "Microsoft announced a partnership and committed to a full-featured Azure provider for Terraform.",
   "event_date": "2017",
   "date_precision": "year",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "HC5"
   ]
  },
  {
   "id": "hashicorp-p11",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "product",
   "dimension": "Vault replication",
   "statement": "Vault Enterprise 0.7 added multi-datacenter replication and finer access policies for customers running secrets across clouds and data centers.",
   "event_date": "2017-03-21",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "HC30"
   ]
  },
  {
   "id": "hashicorp-p20",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "product",
   "dimension": "Azure provider partnership",
   "statement": "HashiCorp and Microsoft signed a multi-year partnership to extend Terraform's Azure Resource Manager provider to more Azure services.",
   "event_date": "2017-08-17",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "HC34"
   ]
  },
  {
   "id": "hashicorp-g26",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "go_to_market",
   "dimension": "Azure Cloud Shell",
   "statement": "Microsoft built Terraform into Azure Cloud Shell, letting Azure users run it in the portal with no installation and automatic authentication.",
   "event_date": "2017-09-19",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "HC36"
   ]
  },
  {
   "id": "hashicorp-p13",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "product",
   "dimension": "Terraform Enterprise",
   "statement": "Terraform Enterprise, a rebrand of Atlas, offered workspaces, Sentinel policy as code, single sign-on, version-control integration and a full API for teams using Terraform together.",
   "event_date": "2017-12-12",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "HC20"
   ]
  },
  {
   "id": "hashicorp-g03",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "go_to_market",
   "dimension": "Open source as marketing",
   "statement": "The founders described open source as a marketing approach that builds awareness and affinity for their products.",
   "event_date": "2018-02-08",
   "date_precision": "day",
   "evidence_kind": "participant_account",
   "sources": [
    "HC10"
   ]
  },
  {
   "id": "hashicorp-p14",
   "business": "Developer tools before the enterprise model (Vagrant, Packer and Atlas)",
   "category": "product",
   "dimension": "Atlas retired",
   "statement": "The original Atlas platform was decommissioned; its Packer and artifact features followed on May 31, 2018.",
   "event_date": "2018-03-30",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "HC20"
   ]
  },
  {
   "id": "hashicorp-g05",
   "business": "Developer tools before the enterprise model (Vagrant, Packer and Atlas)",
   "category": "go_to_market",
   "dimension": "Atlas buyers",
   "statement": "Atlas found moderate success mainly with small and mid-sized businesses.",
   "event_date": "2018-04-10",
   "date_precision": "day",
   "evidence_kind": "participant_account",
   "sources": [
    "HC11"
   ]
  },
  {
   "id": "hashicorp-p15",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "product",
   "dimension": "Feature moved to open source",
   "statement": "Vault 1.0 moved auto-unseal, previously an Enterprise feature, into the open-source edition.",
   "event_date": "2018-10-23",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "HC32"
   ]
  },
  {
   "id": "hashicorp-p16",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "product",
   "dimension": "Terraform 0.12",
   "statement": "HashiCorp announced Terraform 0.12, a major revision of HCL that Hashimoto later called its largest open-source release.",
   "event_date": "2018-10-23",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "HC31"
   ]
  },
  {
   "id": "hashicorp-g16",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "go_to_market",
   "dimension": "Free collaboration tier",
   "statement": "HashiCorp made Terraform remote state free with unlimited users and workspaces, alongside paid Business and Enterprise tiers.",
   "event_date": "2018-10-23",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "HC21"
   ]
  },
  {
   "id": "hashicorp-g18",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "go_to_market",
   "dimension": "Expansion pricing",
   "statement": "An eBay Classifieds Group engineer reported a seven-figure Vault Enterprise renewal quote, which his team found too expensive.",
   "event_date": "2018-11-02",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "HC32"
   ]
  },
  {
   "id": "hashicorp-g17",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "go_to_market",
   "dimension": "Price floor",
   "statement": "Until about 2019 HashiCorp offered only top-end enterprise pricing and had nothing for a customer with $75,000 to spend.",
   "event_date": "2019",
   "date_precision": "year",
   "evidence_kind": "participant_account",
   "sources": [
    "HC2"
   ]
  },
  {
   "id": "hashicorp-p06",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "product",
   "dimension": "Local CLI",
   "statement": "Terraform ran as a command-line tool on the engineer's own machine rather than as a hosted service, which Hashimoto names as an advantage over CloudFormation at the time.",
   "event_date": "2019-07-03",
   "date_precision": "day",
   "evidence_kind": "participant_account",
   "sources": [
    "HC27"
   ]
  },
  {
   "id": "hashicorp-p07",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "product",
   "dimension": "Workflow, not workload, portability",
   "statement": "Terraform code stays specific to each cloud; what carries across clouds is the workflow and language, not the configuration.",
   "event_date": "2019-07-03",
   "date_precision": "day",
   "evidence_kind": "participant_account",
   "sources": [
    "HC27"
   ]
  },
  {
   "id": "hashicorp-p08",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "product",
   "dimension": "HCL",
   "statement": "HashiCorp wrote its own configuration language (HCL) with a one-to-one mapping to JSON so that both people and machines could produce it.",
   "event_date": "2019-07-03",
   "date_precision": "day",
   "evidence_kind": "participant_account",
   "sources": [
    "HC27"
   ]
  },
  {
   "id": "hashicorp-g09",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "go_to_market",
   "dimension": "Open-core boundary",
   "statement": "Free editions cover individual and team needs; paid editions cover organizational needs such as compliance and data-sovereignty controls, and security itself stays free in open-source Vault.",
   "event_date": "2020-05-12",
   "date_precision": "day",
   "evidence_kind": "participant_account",
   "sources": [
    "HC2"
   ]
  },
  {
   "id": "hashicorp-g10",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "go_to_market",
   "dimension": "Packaging",
   "statement": "HashiCorp chose to sell use cases rather than individual features, because selling features made the free/paid line contentious.",
   "event_date": "2020-05-12",
   "date_precision": "day",
   "evidence_kind": "participant_account",
   "sources": [
    "HC2"
   ]
  },
  {
   "id": "hashicorp-g11",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "go_to_market",
   "dimension": "Unmonetized tools",
   "statement": "Packer was deliberately left unmonetized despite underpinning many cloud services.",
   "event_date": "2020-05-12",
   "date_precision": "day",
   "evidence_kind": "participant_account",
   "sources": [
    "HC2"
   ]
  },
  {
   "id": "hashicorp-g12",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "go_to_market",
   "dimension": "First customers",
   "statement": "Early enterprise customers were technically advanced 'hipster enterprises' such as Twitch, which called after using the tools.",
   "event_date": "2020-05-12",
   "date_precision": "day",
   "evidence_kind": "participant_account",
   "sources": [
    "HC2"
   ]
  },
  {
   "id": "hashicorp-g14",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "go_to_market",
   "dimension": "Practitioner investment",
   "statement": "HashiCorp invested heavily in developer relations, evangelists and free educational content so practitioners would influence corporate purchases; McJannet called the investment outsized for its size.",
   "event_date": "2020-09-01",
   "date_precision": "day",
   "evidence_kind": "participant_account",
   "sources": [
    "HC9"
   ]
  },
  {
   "id": "hashicorp-p18",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "product",
   "dimension": "Terraform 1.0",
   "statement": "Terraform reached 1.0 with more than 1,000 providers and 5,500 shared modules.",
   "event_date": "2021-07-13",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "HC5"
   ]
  },
  {
   "id": "hashicorp-p21",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "product",
   "dimension": "AWS Cloud Control provider",
   "statement": "HashiCorp released a Terraform AWS provider generated from AWS's Cloud Control API after two years of work with the CloudFormation team; Terraform could provision over 1,000 AWS resource types by November 2021.",
   "event_date": "2021-09-30",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "HC51"
   ]
  },
  {
   "id": "hashicorp-g19",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "go_to_market",
   "dimension": "Customer base",
   "statement": "HashiCorp reported 2,392 customers, 595 of them paying over $100,000 a year, and more than 340 of the Forbes Global 2000.",
   "event_date": "2021-10-31",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "HC6"
   ]
  },
  {
   "id": "hashicorp-p17",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "product",
   "dimension": "HashiCorp Cloud Platform",
   "statement": "HCP offered fully managed, hosted versions of multiple products for customers lacking the staff to run them.",
   "event_date": "2021-11-29",
   "date_precision": "day",
   "evidence_kind": "company_described_offering",
   "sources": [
    "HC6"
   ]
  },
  {
   "id": "hashicorp-g20",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "go_to_market",
   "dimension": "Sales channels",
   "statement": "The S-1 describes a direct enterprise sales force, self-serve purchase through HCP for smaller customers, and cloud and software partners.",
   "event_date": "2021-11-29",
   "date_precision": "day",
   "evidence_kind": "company_described_offering",
   "sources": [
    "HC6"
   ]
  },
  {
   "id": "hashicorp-g21",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "go_to_market",
   "dimension": "Community",
   "statement": "The S-1 reports about 100 million product downloads in fiscal 2021 and a user-group community of over 37,000 members in more than 140 chapters.",
   "event_date": "2021-11-29",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "HC6"
   ]
  },
  {
   "id": "hashicorp-g22",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "go_to_market",
   "dimension": "IPO",
   "statement": "HashiCorp listed at $80 a share, raising $1.2 billion; cloud-hosted subscriptions were 7% of revenue.",
   "event_date": "2021-12-09",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "HC15"
   ]
  },
  {
   "id": "hashicorp-p19",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "product",
   "dimension": "License change",
   "statement": "Future releases of all products moved from the Mozilla Public License to the Business Source License v1.1, barring competitive offerings; APIs, SDKs and most libraries stayed MPL 2.0.",
   "event_date": "2023-08-10",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "HC13"
   ]
  },
  {
   "id": "hashicorp-g24",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "go_to_market",
   "dimension": "Fork",
   "statement": "Gruntwork, Harness, Scalr, env0 and Spacelift forked Terraform as OpenTofu under the Linux Foundation.",
   "event_date": "2023-09-20",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "HC16"
   ]
  },
  {
   "id": "hashicorp-p22",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "product",
   "dimension": "Managed cloud platform",
   "statement": "HCP subscription revenue reached $76.1 million in fiscal 2024; cloud-hosted services rose from 6% to 13% of revenue between fiscal 2022 and 2024.",
   "event_date": "2024-01-31",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "HC50"
   ]
  },
  {
   "id": "hashicorp-g23",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "go_to_market",
   "dimension": "Slowing expansion",
   "statement": "Fiscal 2024 revenue grew 23% to $583.1 million, while trailing net dollar retention fell to 115% from 131% a year earlier.",
   "event_date": "2024-01-31",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "HC18"
   ]
  },
  {
   "id": "hashicorp-g25",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "go_to_market",
   "dimension": "Sale",
   "statement": "IBM completed its $6.4 billion acquisition of HashiCorp after FTC and UK CMA reviews.",
   "event_date": "2025-02-27",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "HC14"
   ]
  },
  {
   "id": "hashicorp-p03",
   "business": "Infrastructure automation software (Terraform, Vault and the HashiCorp suite)",
   "category": "product",
   "dimension": "Design principles",
   "statement": "The Tao of HashiCorp commits to workflows rather than technologies and to simple, modular, composable tools with well-defined scopes, in the Unix tradition.",
   "event_date": "2026-10-01",
   "date_precision": "day",
   "evidence_kind": "company_described_offering",
   "sources": [
    "HC4"
   ]
  }
 ]
}