VC pressing the eject button
Annual losses of $ 90 million and an IPO of $ 100 million? That's desperation.
Oracle-chaser MongoDB has filed to go public, with its accounts revealing it made a net loss of almost $90m in the year ended January 31, 2017. The company, which started life as 10Gen in 2007, has secured a total of $303.4m in equity funding to date, and is hoping to raise $100m in its initial public offering. MongoDB's SEC …
I'm just waiting for MongoDB to go tits up and get snapped up by Oracle, Microsoft or Amazon. They don't seem to have much of a business model. It's a shame though, the product is really good. I guess they could go the other way and transition to a community-driven open source project, but I don't hold out much hope of that.
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