IPO of the Week: MongoDB, Inc.

MongoDB

Incorporated in 2007 under the name 10Gen, and launched the Server in 2009, MongoDB is a database software provider.

MongoDB generates revenue primarily from sales of subscription/software of MongoDB platform and hosted database-as-a-services (DBaaS) solutions. The company also derives revenue from post-contract support, training and consulting services.

On 10/19/2017, MongoDB went public on Nasdaq led by prestige banks including Morgan Stanley, Goldman Sachs, Barclays and Allen & Co. The stock was priced at $24.00, above the boosted marketed range of $20.00 to $22.00. With a full subscription of 8.0 million offered shares and the 15% over-allotment option fully exercised, MongoDB was valued at $1.20 billion at offer. MongoDB opened at $33.00, a 37.5% pop from its offer price, and finished the first day with a 33.63% initial return. MongoDB was included in the IPOX® 100 U.S. Portfolio on 12/21/2018 and currently weighs circa 0.74% of the portfolio.