We are hearing that a number of organizations intend to move public between Labor Day and Thanksgiving. MangoDB filed confidentially for IPO
Wait before unveiling its financials and many businesses are choosing to submit filings. This assists startups get ready to record before a couple weeks prior to the debut without as much scrutiny on the stock exchange.
MongoDB has filed for IPO, sources tell TechCrunch. An S-1 filing has been filed by the business and is planning to go public.
IPOs are a great way to offer liquidity for employees and early investors. Recent high-profile IPOs like Blue and Snap Apron have struggled while companies such as Amazon and Google have seen success on the stock market. A data company, Cloudera, has remained above its IPO price.
The company has raised over $300 million in equity funding such as investors such as Intel Capital Sequoia Capital and NEA. Its last round of financing was more than just two years back at a reported $1.6 billion evaluation.
MongoDB helps companies, including Adobe, eBay and Citigroup, handle databases. A number of its offerings comprise also the Atlas database-as-a-service offering as well as its MongoDB open-source database.
There were rumblings about an eventual MongoDB IPO for many years now. In May, The Wall Street Journal reported that the firm hired investment bankers to move forward together with the IPO process. MangoDB filed confidentially for IPO.