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

Linear, a product management software startup, doubled its valuation to $2.5 billion through an employee tender offer. The company surpassed $100 million in annual recurring revenue, presenting a counterpoint to the narrative that AI will render traditional SaaS companies obsolete. Co-founder Karri Saarinen stated that because Linear is already cash-flow positive, the new deal primarily functions as a talent retention tool.