Everyone says software is dead. SaaS startup Linear just doubled its valuation to $2.5 billion.

Linear, a startup that makes product management software, has doubled its valuation to $2.5 billion and surpassed $100 million in annual recurring revenue. The company completed an employee tender offer at the new valuation, which CEO Karri Saarinen says is mostly an employee retention tool since the company is cash-flow positive. This defies the narrative that AI will make traditional software companies obsolete.

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