MongoDB, Inc.
MongoDB, Inc., together with its subsidiaries, provides general purpose database platform worldwide. The company offers MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB. It offers professional services comprising consulting and training. The company was formerly known as 10gen, Inc. and changed its name to MongoDB, Inc. in August 2013. MongoDB, Inc. was incorporated in 2007 and is headquartered in New York, New York.
What does it do?
MongoDB makes the software that companies use to store and organize their data — think of it like a super-powered filing system for apps and websites. Unlike old-school databases that force data into rigid spreadsheet-like tables, MongoDB lets developers store messy, real-world data in a more flexible format. If you've used apps like eBay, Forbes, or Toyota's connected car platform, you've interacted with data that MongoDB helps manage. It's the behind-the-scenes plumbing that most people never see but almost every modern app needs.
Databases are the backbone of the AI era — every AI model needs somewhere to store and retrieve data, and MongoDB's flexible format is well-suited for the unstructured data that AI applications generate. The company is also riding a broader shift where businesses are moving their data infrastructure to the cloud, a transition that still has years to run. With $2.5B in revenue and 25% year-over-year growth, MongoDB is proving that developers are choosing its platform over decades-old competitors.
How does it make money?
MongoDB makes money primarily through subscriptions — companies pay monthly or annually to use its software. The biggest revenue driver is MongoDB Atlas, its cloud-hosted version, which charges customers based on how much data they store and process (the more you use, the more you pay). This 'consumption-based' model means revenue can grow automatically as customers' businesses scale up. It also sells MongoDB Enterprise Advanced, a premium on-premises product for large corporations with strict data security requirements, plus professional services and consulting.
Why do investors care?
The growth story is simple: the world is generating more data than ever, and businesses need modern tools to handle it. MongoDB's developer-first approach has built a loyal community — over 46,000 paying customers — which makes it sticky because once a company builds on MongoDB, switching is painful and expensive. The bull case is that Atlas becomes the default database for AI-powered applications, unlocking a massive new wave of spending. What has to go right: Atlas must keep taking market share from legacy players like Oracle, and the company must turn its strong revenue growth into consistent profits.
Deep Dive
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