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Database provider MongoDB has filed to go public

MongoDB, a database software company based in New York, has filed to go public with the Securities and Exchange Commission as it continues to burn a ton of cash despite its revenue almost doubling year-over-year.

The company, which provides open-source database software that became very attractive among early-stage startups, is one of a myriad of companies that have sought to go public by building a business around selling sophisticated tools for that software. The hope is that MongoDB would be able to offer a superior experience for its open-source software and reduce the overall workload for companies that want to deploy its technology. Cloudera also went public earlier this year.

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