Exploring the open-source business model and how companies monetize it

Open-source companies, which freely offer their software's source code, have successfully monetized their offerings through various business models despite the code being accessible for free. Successful examples such as Elastic, HashiCorp, and RedHat demonstrate how open-source organizations can generate significant revenue. Monetization strategies include soliciting donations, providing paid support or premium care, licensing with different terms for smaller and larger organizations, offering cloud-hosted services, and utilizing the open-core model where the core software is free but additional features are paid. While open-source software is primarily viewed as a development model, these companies have creatively commercialized their offerings without compromising the open-source ethos, allowing businesses to thrive while maintaining community collaboration and innovation.