MongoDB, which provides enterprises with an open source NoSQL database platform, filed on Thursday with the SEC to raise up to $100 million in an initial public offering. However, the deal size is likely a placeholder for an IPO that we estimate could raise $150 million.
The New York, NY-based company was founded in 2007 and booked $124 million in sales for the 12 months ended July 31, 2017. It plans to list on the Nasdaq under the symbol MDB. MongoDB filed confidentially on June 18, 2017. Morgan Stanley, Goldman Sachs, Barclays and Allen & Company are the joint bookrunners on the deal. No pricing terms were disclosed.
