Becoming another Redhat wouldn't be enough to justify investment at this valuation though would it? They need an upside potential 5 to 10x higher than Redhat's current valuation.
Well, valuation is a gamble. You can try to justify the potential growth. The tech community is embracing the adoption and maturity of container-based CI/CD deployment. In the end, some number trick is done, higher valuation is posted, investors (new and old) are going nuts. Some months later, the big guy cash out large of the initial buying and move on to the hot baby in town.