Database Maker seeks $ 160 million for IPO
Couchbase plans to sell 7 million shares at around $ 20-23 each, bringing database provider NoSQL around $ 160 million for its upcoming public offering (IPO), the company said today. .
The Santa Clara, Calif., Company that filed his S-1 formed last month with the Securities and Exchange Commission, plans to go public in the near future. Its shares will be traded on the Nasdaq Global Select Market under the ticker symbol “BASE”.
Couchbase is an open source document-oriented database that stores data in JSON format. The database supports distributed operations and ACID transactions, and has an SQL-like query language called N1QL. It presents a flexible data schema; native language links for CRUD, queries, search and analysis in many popular languages; and is primarily targeted as a backend for web and mobile applications.
Originally launched in 2011, Couchbase is now multimodal, supporting a key-value store (based on Memcached) and geospatial capabilities. The company offers the database as a containerized service in the cloud, as well as a version optimized for mobile devices for disconnected devices. It also offers the first commercial implementation of SQL ++, which provides analytical queries for JSON data.
Couchbase’s business plan is to replace existing databases with its database, which it sees as filling an unmet need for “engagement systems” rather than registration systems. For every transaction processed by a traditional relational database, there are 1,000 interactions with consumers on web and mobile applications.
However, the “legacy” databases designed decades ago around relational technology are ill-equipped to handle these engagements, explains Couchbase. This leaves companies to find other ways to fill the “look to book” void.
“Legacy relational databases are just not designed to deliver the performance, scalability and agility that modern applications need,” the company writes in its S-1. “For businesses to achieve their digital transformation, new databases are needed to power new applications and reorganize existing applications. “
Companies using the commercial implementation of the product, called Couchbase Server, include Amadeus, Nasdaq, Experian, Carnival, and USAA, among others. Couchbase says the percentage of customer data workloads that are running on its database has increased from 40% to 80% in recent years.
S-1 also shared information on Couchbase’s finances. Total revenue increased from $ 82.5 million in the fiscal year ended Jan.31, 2020 to $ 103.3 million in the fiscal year ended Jan.31, 2021, according to S-1 . Its net loss also widened, from $ 29.3 million in fiscal 2020 to $ 40.0 million last year, according to the report.
At $ 23 per share, Couchbase’s total valuation is around $ 900 million, according to other publications.
How SQL ++ makes JSON more searchable
Couchbase wins $ 105 million to prepare a cloud offer
Couchbase’s engaging plan to win customers over