MongoDB Will Go Public This Year

 

MongoDB, the company whose technology powers the courseware database of the Open edX platform, has filed its IPO (Initial Public Offering) with the SEC to go public and raise up $100 to 150 million in fresh capital in order to pursue product development.

Founded in 2007 and based in New York, MongoDB’s is a database software company that provides the enterprise with an open source NoSQL database platform, which stores data in JSONB-like documents. Its community server “freemium” offering has been downloaded more than 30 million times.

According to TechCrunch, MongoDB’s post-money market valuation is $1.6 billion, after receiving $303 million in nine rounds from 14 investors. In 2015, the company brought in $65.3 million in revenue on losses of $73.5 million.

MongoDB has a partnership with edX to provide free online training at edX.org, although its only course (“Introduction to MongoDB using the MEAN Stack”) is not currently available to enroll. Its MongoDB University has an extensive catalog of free courses; overall, it has attracted 200,000 learners.

 

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