As you are aware, we are in the midst of a technology boom and a widespread digital transformation and MongoDB is a titan.
MongoDB is one company leading the charge. Never heard of this company before? Not to worry, this company is not on investor radars yet.
Mongo DB is a cloud based next generation database platform. Founded in 2008 by Dwight Merriman, Kevin Ryan and Eliot Horowitz, the same trailblazers that built and sold DoubleClick to Google for $1.5 billion in 2005.
In 2008, the cloud computing boom was just beginning. Equally important, bright minds were hard at work harnessing ‘the cloud’ with the goal of making our lives easier.
With this in mind, MongoDB is very disruptive to existing databases like SQL. As a result, developers now have the option to store data without the cumbersome annoyance of relational databases. No doubt, leadership at Oracle must be in full panic mode! After all, Oracle’s relational databases are 40 years old and pre-dates the internet, the cloud, mobile and anything else considered ‘cool’.
Key Reasons MongoDB is on the rise:
- Mongo is very popular with developers
- It’s easy to get started
- Plays well with Javascript
- Offers incredible flexibility
MongoDB’s financial performance is impressive. During the first quarter, the company had 780 customers with an average annual billings of at least $100,000, up 30% from the previous year. Needless to say, customers are flocking to MongoDB.
By the same token, analysts expect the database market to grow to $84 billion by 2022. Under those circumstances, MongoDB is likely going to grab a large share.
Conclusion
All things considered, technology has always been disruptive to businesses that fail to innovate. Ultimately, a company either changes with the times are get eliminated. Expect MongoDB to rise to the top of the heap. Their shares offer exception value as a long-term hold.
