ISSUE – Aug. 16 | A $1.6 billion startup that’s aiming to take business from Oracle reportedly just filed to go public

MongoDB, a database startup with over $300 million in venture capital financing, has confidentially filed to go public, reports TechCrunch. At the time of its last private valuation in 2015, MongoDB was reportedly a $1.6 billion company. The Wall Street Journal reported in May that MongoDB had hired Goldman Sachs and Morgan Stanley to underwrite an IPO.

A change to SEC regulations took effect earlier this summer, allowing any company to confidentially file to go public — a move intended to jump start the IPO market. Previously, this option had only been available to companies under a certain size. [ Business Insider ]