Database firm Couchbase eyes valuation of over $ 900 million when it goes public in the United States
July 12 (Reuters) – Database software company Couchbase Inc said on Monday that it plans to raise up to $ 161 million through an initial public offering, valuing the company at more than $ 900 million of dollars.
The company, whose investors include GPI Capital, North Bridge Venture Partners and Accel, plans to sell 7 million shares in an IPO at a price of between $ 20 and $ 23 per share, according to a regulatory filing . (https://bit.ly/3kmyduH)
The company had signed up for a stock market listing that could earn it as much as $ 3 billion, Reuters reported in March, citing people familiar with the matter. Read more
Its listing comes at a time when demand for data storage, security and processing has increased due to the shift of global businesses to a remote working model during the COVID-19 pandemic.
Couchbase’s software helps businesses manage their databases on web and mobile applications through its NoSQL cloud database service. Among the company’s clients are media giant Comcast Corp (CMCSA.O) and e-commerce company eBay Inc (EBAY.O).
Couchbase will be listed on the Nasdaq after the offering under the symbol “BASE”.
Morgan Stanley and Goldman Sachs are the main underwriters of the offer.
Report by Sohini Podder in Bengaluru; Editing by Amy Caren Daniel
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