MongoDB Inc.

Last updated
MongoDB, Inc.
Formerly10gen, Inc. (2007–2013)
Company type Public
Industry Software
Founded2007;18 years ago (2007)
Founders
Headquarters Paramount Plaza
New York City, U.S.
Area served
Worldwide
Key people
Products MongoDB
RevenueIncrease2.svg US$1.68 billion (2024)
Increase Negative.svgUS$−234 million (2024)
Increase Negative.svgUS$−177 million (2024)
Total assets Increase2.svgUS$2.87 billion (2024)
Total equity Increase2.svgUS$1.07 billion (2024)
Number of employees
5,037 (January 2024)
Website mongodb.com
Footnotes /references
Financials as of January 31,2024. [1]

MongoDB, Inc. is an American software company that develops and provides commercial support for the source-available database engine MongoDB, a NoSQL database that stores data in JSON-like documents with flexible schemas. MongoDB, Inc. is a member of the MACH Alliance. [2]

Contents

History

The company was first established in 2007 as 10gen. Based in New York City, 10gen was founded by former DoubleClick founder and CTO Dwight Merriman and former DoubleClick CEO and Gilt Groupe founder Kevin P. Ryan with former DoubleClick engineer and ShopWiki founder and CTO Eliot Horowitz and received $81 million in venture capital funding from Flybridge Capital Partners, In-Q-Tel, Intel Capital, New Enterprise Associates (NEA), Red Hat, Sequoia Capital, and Union Square Ventures. [3] [4] [5] 10gen originally aimed to build a platform as a service architecture based entirely on open source components; however, the company was unable to find an existing database platform that met their "principles" for a cloud architecture. As a result, the company began to develop a document-oriented database system it called MongoDB. After realizing the potential of the software on its own, 10gen's team decided to scrap its cloud platform and focus on maintaining MongoDB instead. [6] In February 2009, 10gen released MongoDB as an open source project. [7] 10gen opened its first west coast office in August 2010, [8] having offices in Palo Alto, Reston, London, Dublin, Barcelona, and Sydney by 2012. [9]

In September 2012, 10gen was in The Wall Street Journal's The Next Big Thing 2012. [10]

On August 27, 2013, 10gen announced that it would change its name to MongoDB Inc., associating itself more closely with what became its flagship products. [7]

On August 5, 2014, Dev Ittycheria was appointed president and chief executive officer. [11]

By 2017, MongoDB had raised $311 million in funding from venture capitalists. [12] MongoDB filed for an initial public offering on September 21, 2017 and went public on NASDAQ that October 20th. [13] It raised $192 million, valuing the company at $1.6 billion overall. [12] Its market capitalization varied greatly afterwards, reaching $39 billion in 2021 and coming back down to $10 billion by 2024. [14] [15]

MongoDB acquired database engine company WiredTiger in 2014, followed by database-as-a-service company MLab for $68 million in 2018. [16] The following year, in 2019, MongoDB acquired a mobile-focused database company called Realm for $39 million. [17]

A secondary public offering was held on June 29, 2021. [18] In 2022, MongoDB established its own venture capital fund. [14]

CIA backing concern

MongoDB Inc., then known as 10gen, has received funding from the U.S. Government through the CIA-sponsored venture capital arm In-Q-Tel. This has been a source of concern in India. [19]

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References

  1. ↑ "MongoDB, Inc. FY 2024 Annual Report (Form 10-K)". SEC.gov. U.S. Securities and Exchange Commission. 15 March 2024.
  2. ↑ "MACH Alliance Announces MongoDB and Netlify as First Members of New "Enabler" Category". MACH Alliance. Retrieved 24 February 2024.
  3. ↑ NYC's Largest Venture Capital Deals
  4. ↑ WSJ, MarketWatch
  5. ↑ Harris, Derrick (May 29, 2012). "With $42M more, 10gen wants to take MongoDB mainstream". GigaOm.
  6. ↑ Metz, Cade (May 25, 2011). "MongoDB daddy: My baby beats Google BigTable". The Register.
  7. 1 2 "10gen embraces what it created, becomes MongoDB Inc". Gigaom. 27 August 2013. Retrieved 27 August 2013.
  8. ↑ 10gen Announces Key Hires in Engineering and Sales
  9. ↑ Sequoia Leads $20 Million Round In MongoDB Big Data Database Provider 10gen
  10. ↑ The Next Big Thing 2012 Archived June 4, 2013, at the Wayback Machine
  11. ↑ Konrad, Alex (August 5, 2014). "Dev Ittycheria To Be New CEO Of Database Unicorn MongoDB As Schireson Steps Down". Forbes .
  12. 1 2 Bort, Julie (October 20, 2017). "People told the MongoDB founders they were 'completely crazy' and now the company is worth $1.6 billion". Business Insider. Retrieved August 9, 2024.
  13. ↑ Novet, Jordan (October 19, 2017). "MongoDB will raise $192 million in IPO, making it worth $1.2 billion". CNBC. Retrieved August 9, 2024.
  14. 1 2 Sawers, Paul (April 28, 2024). "MongoDB CEO Dev Ittycheria talks AI hype and the database evolution as he crosses 10-year mark". TechCrunch. Retrieved August 11, 2024.
  15. ↑ Ghosh, Shona (August 15, 2018). "The founding CTO of a $3 billion company explains why it's vital he still gets his hands dirty coding". Business Insider. Retrieved August 10, 2024.
  16. ↑ Sawers, Paul (October 10, 2018). "MongoDB to acquire cloud database provider MLab for $68 million". VentureBeat. Retrieved August 10, 2024.
  17. ↑ Miller, Ron (April 24, 2019). "MongoDB to acquire open-source mobile database Realm for $39 million". TechCrunch. Retrieved August 10, 2024.
  18. ↑ "Prospectus Supplement for Run 424(b)(5)". US Securities and Exchange Commission. June 30, 2021. Retrieved July 22, 2021.
  19. ↑ Joseph, Lison (Dec 3, 2013). "MongoDB startup hired by Aadhaar got funds from CIA VC arm". The Economic Times.
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