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MongoDB Becomes King of NYC Startups With $1.2 Billion Valuation

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Goldman Sachs

MongoDB -- whose name is a play on humongous -- now has about 600 customers, including Goldman Sachs Group Inc. and MetLife Inc., Schireson said. The company markets its database software as easier to manipulate and scale up, making it better-suited to the Internet age.

Founders Dwight Merriman and Eliot Horowitz came up with the idea for MongoDB’s NoSQL database technology after getting frustrated at having to make specialized systems from scratch to handle their company’s needs. At the time, the two were working at DoubleClick, an advertising-technology business that was acquired by Google Inc. (GOOG) in 2008 for $3.1 billion.

“We spent too much time working to custom-build databases when we should have been working on the project we wanted to work on,” Horowitz said. “We wanted to go ahead and solve the database problem so we wouldn’t have to do it again and again.”

Subscription Mode

lMongoDB, formerly called 10Gen, sells its database technology as a subscription, charging about $5,000 per server per year -- with support and training included. That differs from the multiyear, multimillion-dollar contracts traditionally used by software providers. The total database market is worth $30 billion, according to Forrester Research Inc.

MongoDB sucks. Stick to Riak, CouchDB, and/or Redis:

MongoDB is one of the least reliable pieces of infrastructure ever written.

It's buggy, crashes a lot, loses data, and consumes vast quantities of resources.

Y U no love MongoDB meme

MongoDB sucks meme everybody hates forever alone


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