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Could this 'next generation' database company be New York's big IPO in 2017?

Photo: Buck Ennis   President and CEO Dev Ittycheria says his company is building support for new forms of media booming online.   With MongoDB making hundreds of millions of dollars annually, the challenger to Oracle is setting its sights on a larger chunk of a $40 billion market

Dev Ittycheria has been a successful founder, a venture-capital partner and a top executive in a global firm. But the fact that he played a role in taking three tech companies public drew the most attention when he was named chief executive of MongoDB in 2014. The database software pioneer, which aims to challenge Oracle for the future of database management, has raised more than $300 million since its 2007 founding and has been valued at $1.8 billion. The Times Square-based company is considered a candidate to go public within the next couple of years.

What exactly does MongoDB do?

Every application—on your phone, at work—has a database where information is stored. The legacy databases, like Oracle's, behave like spreadsheets, with nice rows and columns. But now, information could be a video file, an unstructured text or a graphic that doesn't fit in rows and columns. We are a next-generation database. We offer a very flexible data model. As your app evolves, it's very easy to add new features, which is why developers love us. They can use this model to build apps far more quickly.

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