Software Database Firm Couchbase Files For US IPO: Reuters

  • Database software firm Couchbase Inc registered for a U.S. initial public offering (IPO) to tap the remote work fueled demand for data storage and processing, Reuters reports.
  • Couchbase plans to list on the Nasdaq under the ticker symbol "BASE."
  • Reuters reported in March that Couchbase could be worth $3 billion in an IPO.
  • Couchbase assists corporate customers like Infosys Ltd INFY and Emirates manage databases on the web and mobile applications through its NoSQL cloud database service.
  • Founded in 2011, Couchbase last raised $105 million at a valuation of $580 million in May 2020, reaching $294 million in total investor funding. The company's investors include GPI Capital, North Bridge Venture Partners, and Accel.
  • Couchbase had first planned to go public in 2016 after it raised $30 million.
  • Couchbase's latest listing plans follow cloud-based data-warehousing company Snowflake Inc's SNOW 2020 listing at a $33 billion valuation.
  • Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC are the lead book-running managers.
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