Database company Couchbase eyes over $900 mln valuation in U.S. IPO - Reuters

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A view of the exterior of the Nasdaq market site in the Manhattan borough of New York City, U.S., October 24, 2016. REUTERS/Shannon Stapleton

July 12 (Reuters) - Database software company Couchbase Inc said on Monday it plans to raise as much as $161 million through an initial public offering, valuing the company at more than $900 million.

The company, whose investors include GPI Capital, North Bridge Venture Partners and Accel, plans to sell 7 million shares in an IPO priced at between $20 and $23 per share, a regulatory filing showed. (https://bit.ly/3kmyduH)

The company had registered for a stock market listing that could value it as much as $3 billion, Reuters reported in March, citing people familiar with the matter. read more

Its listing comes at a time when demand for data storage, security and processing has surged due to global businesses moving to a remote working model during the COVID-19 pandemic.

Couchbase's software helps companies manage their databases on web and mobile applications through its NoSQL cloud database service. Media giant Comcast Corp (CMCSA.O) and e-commerce firm eBay Inc (EBAY.O) are among the company's customers.

Couchbase will be listed on the Nasdaq after the offering under the ticker symbol "BASE".

Morgan Stanley and Goldman Sachs are the lead underwriters of the offering.

Reporting by Sohini Podder in Bengaluru; Editing by Amy Caren Daniel

Our Standards: The Thomson Reuters Trust Principles.

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