MongoDB has finished up what is essentially the final step in going public, pricing its IPO at $24 and raising $192 million in the process.
The company will debut on the public markets tomorrow and will once again test the waters for companies that are looking to build full-fledged businesses on the back of open-sourced software. MongoDB provides open-sourced database software that can be pretty attractive to early-stage startups as they look to get off the ground, and then look to convert those companies (and larger ones) to paying customers by offering sophisticated tools. It’s a situation not unlike Cloudera, which went public earlier this year.
The company is selling 8 million shares, with an option for underwriters to purchase an additional 1.2 million shares. MongoDB may raise as much as $220.8 million if the IPO includes that additional allotment, also called the greenshoe. At $24 per share, the company would be valued at around $1.2 billion.
While the company appears to be growing, its losses have also been quite steady…