NoSQL database firm Couchbase confidentially recordsdata for IPO
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(Reuters) — Database software agency Couchbase has registered for a inventory market debut that may probably nicely close to throughout the precept half of this 300 and sixty 5 days and value it at as grand as $3 billion, based principally completely on of us accustomed to the topic.
The corporate has accomplished bigger than $100 million in annual earnings, one of many sources stated. The sources requested anonymity for the reason that preliminary public providing (IPO) submitting with the U.S. Securities and Substitute Fee is confidential and has now not however been made public.
Couchbase declined to remark.
Couchbase helps firm prospects akin to Comcast and eBay handle databases on web and cellular capabilities via its NoSQL cloud database service. It has thrived as search information from for knowledge storage and processing has soared as a consequence of of a long way off working all of the technique via the COVID-19 pandemic.
Primarily based in 2011, Couchbase has raised $294 million from traders to this stage. It final raised $105 million at a valuation of $580 million in May nicely 2020, based principally completely on PitchBook knowledge. GPI Capital, North Bridge Mission Companions, and Accel are amongst its backers.
The corporate had eyed an IPO serve in 2016, after it raised $30 million. It stated on the time it anticipated that to be its final spherical sooner than going public.
MongoDB, yet another database firm and a competitor of Couchbase, went public in 2017 and now instructions a $20 billion market capitalization. Snowflake, a cloud-primarily based completely data-warehousing firm, went public final 300 and sixty 5 days at a $33 billion valuation, the most important software IPO in historical past.
The U.S. IPO market stays welcoming, with 62 working companies listed to this stage this 300 and sixty 5 days, based principally completely on knowledge supplier Refinitiv.
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