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MongoDB hopes to raise up to $202M in upsized IPO

MongoDB increased the target range on the IPO it is expected to price and launch this…

MongoDB Inc. is betting that its IPO can garner more from eager investors.

The open-source database system, which is headquartered in New York but has a significant office in Palo Alto, on Tuesday increased the price range of 8 million Class A shares it plans to sell this week to $22 per share, up from $20 a share.

If Mongo shares sell in that range, its market cap would exceed $1.1 billion, which is about 31 percent below its last private valuation when it raised funds in 2015.

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