$1.6 billion startup MongoDB could be worth less than $1 billion when its IPO happens next week
At the mid price, MongoDB would raise about $152 million and be worth about $930 million, according to PitchBook.
That's quite a bit shy of its last valuation as a private company of $1.6 billion.
The New York-based database company has been a darling of the VC world. It raised over $311 million from private investors with later investors paying as much as $16.72/share, according to PitchBook (and earning dividends on those shares).
MongoDB offers database software that's particularly good for today's messy, big data applications, a market known as "No-SQL" databases. It fills a somewhat different technical niche than the traditional databases sold by Oracle and Microsoft. However, as No-SQL tech has grown in popularity, MongoDB has faced competition with traditional vendors and newcomers alike who offer their own versions of No SQL, including Oracle and Amazon Web Services, as well as other startups like Couchbase.
Even so, MongoDB is the granddaddy of this new market. It makes the most popular No-SQL option and is now the fourth most popular database on the market today, according to market watching site DB-Engines.
As for its financials, the company isn't profitable, albeit revenues are growing and losses are shrinking.
MongoDB reported $67.9 million in revenue in the six months ending July 31, and lost $45.76 million. It did $45.1 million in revenue over the same period last year and lost about the same amount of money, $45.33 million. That's a loss of $1.71 a share over those same six months, versus $1.93 a share in the same period last year.
- Mehmet Oz says he was 'exhausted' when he filmed viral 'Wegner's' gaffe, adding it's not a big deal because 'I've gotten my kids' names wrong as well'
- Life and times of Rakesh Jhunjhunwala — the man behind the trader
- A 29-year-old woman found a mark on her head and was diagnosed with a fungal infection. It turned out to be invasive skin cancer.
- Centre to form panel to seek views on adopting universal charger model
- Netflix will not allow you to watch movies and shows offline in the ad-supported tier
- Toy trains for kids
- Gig jobs are popular with pocket-money seeking teens, for primary earners it’s a burden
- Fintech services platform Razorpay acquires offline payments firm Ezetap