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Database Provider MongoDB Files For IPO

MongoDB, general purpose database platform, filed on Thursday with the SEC to raise up to $100 million in an initial public offering. No pricing terms were disclosed.

The company, which provides enterprises with an open source NoSQL database platform, plans to list under the ticker symbol "MDB" on the Nasdaq.

The New York based company was founded in 2007 and booked $124 million in sales for the 12 months ended July 31, 2017

Morgan Stanley, Goldman Sachs and Barclays are listed among the underwriters.

For the six month ended July 31, 2017, MongoDB reported revenue of $67.99 million, up from $45.12 million in the previous year.The company reported net loss of $45.77 million versus loss of $45.33 million last year.

by RTT Staff Writer

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