Open-source database provider MariaDB ready for IPO
Open-source database provider MariaDB said on Feb. 1 that it was going public on the New York Stock Exchange and expects to complete the IPO process by the second half of 2022.
MariaDB goes public through a merger with Angel Pond Holdings Corporation, a NYSE-listed company ad hoc acquisition company (SPAC). A SPAC is an increasingly common approach by which companies can go public without a traditional IPO.
SPAC’s merger with MariaDB values the open-source database provider at $672 million.
MariaDB forecasts revenue of $47.4 million for the vendor’s current fiscal year ending September 2022. After the SPAC merger is complete, the vendor will continue to be led by current MariaDB CEO, Michael Howard.
Solid position in the database market
The IPO is a positive step for MariaDB as it seeks to expand, said Ventana Research analyst Matt Aslett.
“MariaDB is well positioned to expand its presence in enterprise data strategies,” Aslett said.
The vendor’s combination of open source technology, managed cloud services, consulting expertise and MySQL database compatibility puts it in a strong position in the database market, said Aslett.
Matt AslettAnalyst, Ventana Research
MariaDB’s database platform handles both operational and analytical workloads, including distributed SQL as well as high availability and reliability, Aslett noted.
From MySQL to SkySQL to MariaDB
MariaDB debuted in 2009, originally as a fork of the open source MySQL database.
The creator of MariaDB, Monty Widenius, is also the creator of MySQL. Over the past decade, MariaDB’s community of users and technologies has grown.
From a business perspective, MariaDB was formed in 2013, after a merger between database service provider SkySQL and the key people behind the open-source MariaDB database project.
The MariaDB company helped provide commercial support services and enterprise distribution of the database. MariaDB X5released in 2020, marked a significant highlight for the company as it added distributed SQL functionality for both on-premises and cloud users.
The cloud is an active area of interest and focus for MariaDB.
In recent years, the open-source database vendor has focused on building its cloud database-as-a-service platform known as MariaDB SkySQL, which also became generally available in 2020.
MariaDB continued to expand its cloud DBaaS capabilities, introducing high availability and scalability features for distributed SQL in May 2021.
the open-source DBaaS market in recent years has warmed up, with several vendors including DataStax, Couchbase, Instaclustr and Aiven all offering open source database capabilities.