The difference is that MariaDB is over ten years old and has pursued revenue growth for years, so hopes and dreams can’t obscure the track record of accumulating losses.

MariaDB has $50M annual recurring revenue but is spending almost $100M in the same time. There’s only a few millions of cash left, and liabilities outweigh assets. It’s on the brink of bankruptcy.

If you bought this company for $30M now, you’d have to pay at least another $30M just to make it through the next few quarters. The investors acquiring the company must be planning big cuts.