Mongodb Inc (NASDAQ:MDB) rolled out its IPO yesterday, impressing in the early days of the company.
Here are eight things investors should know about the company’s decision to go public:
- The company listed its stock on the Nasdaq under the symbol “MDB.”
- MongoDB’s initial public offering included 8 million shares.
- The shares were offered at $24 a share Wednesday night, above expectations of between $20 and $22 per share. Shares opened at $33 apiece and closed at $32.07.
- MDB stock soared about 34% on the company’s first day of trading on Thursday in a $192 million IPO.
- MongoDB’s strong point has been its revenue as the company posted sales of $101.4 million last year, beating the year-ago figure of $65.3 million and topping the figure of two years ago of $40.8 million.
- Profit has been a weak point as the company unveiled a net loss of $86.7 million last year, wider than the more than $70 million in losses during the previous two years. This is due to to a rise in marketing, research and administrative costs for MongoDB.
- The company makes most of its revenue from software subscriptions, which includes more than half of the Fortune 100 companies as customers.
- CEO Dev Ittycheria said the company hopes that going public will help it garner some momentum that will help it grow, eventually leading towards profitability.
Software developers want to work with MongoDB’s database the most, according to a survey by Stack Overflow of 64,000 developers.
MDB stock fell 4.2% Friday.
