MongoDB, which provides enterprises with an open source NoSQL database platform, announced terms for its IPO on Friday.
The New York, NY-based company plans to raise $152 million by offering 8.0 million shares at a price range of $18 to $20. At the midpoint of the proposed range, MongoDB would command a fully diluted market value of $1.1 billion.
MongoDB 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. Morgan Stanley, Goldman Sachs, Barclays and Allen & Company are the joint bookrunners on the deal. It is expected to price during the week of October 16, 2017.
