It was IPO time in the enterprise technology space last week, with SendGrid filing its IPO and MongoDB going public.
SendGrid, a Denver-based email marketing software, filed its S-1 with the United States Securities and Exchange Commission (SEC) on Oct. 18. MongoDB, an enterprise database software provider, filed its SEC S-1 the day before and debuted on NASDAQ Oct. 19, using the stock ticker MDB.
Email API, Campaign Offerings
SendGrid, which according to its SEC filing offers an email API, marketing campaigns and services, saw total revenues $79.9 million in the most recent fiscal year with losses of $3.1M.
They represent the latest MarTech company to make the public journey. One notable, Marketo, jumped back into the private world when acquired by a private equity firm. Equity firms like MarTech, as we saw with Sitecore's acquisition just a couple of months before Marketo's.
“SendGrid filing for an IPO is further proof that the email delivery service market is both large and fast-growing," competitor SparkPost CEO Phillip Merrick said in an emailed statement to CMSWire. "... We are excited to see this development and anticipate a strong reception in the public markets.”
SendGrid's number of shares to be offered and the price range for the proposed offering have not yet been determined, according to company officials.
Relational Database Era on Decline
MongoDB, meanwhile, had a net loss of $86.7 million on revenue of $101 million for the year ended Jan. 31. It also lost $73.5 million on revenue of $65.3 million the year before. "We expect our operating expenses to increase significantly as we increase our sales and marketing efforts, continue to invest in research and development, and expand our operations and infrastructure, both domestically and internationally," MongoDB officials said in the company's SEC filing last week.
Billy Bosworth, DataStax CEO, said in an email to CMSWire the market recognizes that there is a critical need for a new era of operational data management. "The relational database era is passing," he said, "and the new era will have the opportunity for mid-market players like MongoDB and companies such as DataStax with our focus on the enterprise."
Joe McCann, the CEO of NodeSource, said MongoDB's IPO validates the story around open source technologies and their adoption by the enterprise and the "vibrant commercial success of open source-focused businesses."
The company priced its IPO at $24 a share, higher than the anticipated $20 to $22 range, and closed at $32.07 on its first day of trading.
Atlassian Reports $193.8M in Latest Quarter
Enterprise collaboration provider Atlassian, with headquarters in San Francisco and Sydney, reported total revenue of $193.8 million for the first quarter of fiscal 2018, up 42 percent from $136.8 million for same quarter last year. Net loss was $14 million.
Atlassian is coming off one of the company's biggest product releases. Last month, it released its largest enterprise collaboration tool, called Stride. Officials told CMSWire that Stride is the amalgamation of lessons learned about how teams communicate.
AppDynamics Debuts IoT, Network Visibility
San Francisco-based AppDynamics, which offers application intelligence solutions, announced last week new IoT and network visibility and machine learning capabilities for its Business iQ business performance monitoring solution. Company officials promised the next-generation solution will move performance monitoring and technical metrics to predictively driving business outcomes.
It will include:
- Business Journeys: Users can link business events into a single business process
- Experience Level Management (XLM): Users can establish custom experience levels and thresholds by customer, location or device. Users can set performance thresholds across its websites, mobile apps, in-store wireless and at the checkout register.
Adobe Leverages Sensei in Creative Updates
Adobe continued to make investments in its artificial intelligence engine, Adobe Sensei, at its Adobe MAX conference.
Adobe offers a Creative Cloud, Document Cloud and Experience Cloud.
Adobe made product announcements for its Creative Cloud, including four new applications: Adobe XD CC for experience design; Adobe Dimension CC for 2D to 3D compositing; Character Animator CC for 2D animation and a cloud-based photography service, Adobe Photoshop Lightroom CC.
The San Jose, Calif.-based provider also announced feature updates to Photoshop CC, InDesign CC, Illustrator CC and Premiere Pro CC.
Adobe also announced new insights for its personalization platform, Adobe Target. It added three new tabs to the Insights reports of the Auto-Target and Automated Personalization activities.
Officials said the updates are powered by Adobe Sensei, Adobe’s AI and machine learning platform.
Adobe discussed enhancements to Sensei at the Adobe Summit in March. In the Adobe Experience Cloud, it is designed to help marketers tell a better customer story because they can capture trillions of transactions and turn them into data intelligence, officials said.
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