MongoDB enters public capital markets
With MongoDB, the third Big Data company has gone public on Thursday, October 19th 2017. In 2014 and 2017 the two Hadoop distributors Hortonworks and Cloudera had carried out their IPO. Now, the first provider of an open source Big Data database enters public capital markets. The company was able to collect $192 Mio. from the share issue.
On the day of the IPO, MongoDB’s shares entered the market at a price of $24 per share. That already was $6 more than the $18 suggestion earlier in the issue week. However, at the end of the IPO day, MongoDB’s shares increased to $32.50 per share. That valued the company at around $1.17 Billion, still less than prior valuations of $1.6 Billion. Prior to the issue, venture capital investors had pumped over $300 Mio. into the company in the time-period from 2008 to 2015. Morgan Stanley, Goldman Sachs and Barclays were mentioned among the transactions underwriters. MongoDB by the IPO strives to challenge the big database competitors such as Oracle.