A $1.6 billion rival to Oracle and Amazon just filed to go public

• Matt Weinberger
 

• 19h
• 21,696

From left: MongoDB cofounder Eliot Horowitz and execs Michael Gordon and Dev Ittycheria.YouTube/devGeeK; MongoDB

ORCL Oracle

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MongoDB, a New York-based database startup reportedly valued at $1.6 billion, officially filed on Thursday afternoon for its initial public offering.

In August, TechCrunch reportedthat MongoDB had confidentially filed the paperwork to go public, taking advantage of new Securities and Exchange Commission rules. This paperwork appearing publicly on the SEC's system appears to confirm that report.

You can read the full filing here. The company plans to trade on the Nasdaq under the ticker symbol MDB.

MongoDB isn't profitable — the company reported a $45.76 million loss on $67.9 million in revenue in the six months ending July 31. It did $45.1 million in revenue over the same period last year and showed growth.

And MongoDB reports that those losses are narrowing. It says it lost $1.71 a share over those same six months, versus $1.93 a share in the same period last year.

MongoDB also notes that it faces stiff competition from the likes of Oracle, Microsoft, and Amazon. While its flagship Atlas database runs on cloud-computing platforms like Amazon Web Services and Microsoft Azure, those platforms also offer database services of their own.

Earlier this year, MongoDB CEO Dev Ittycheria told Crain's New York that Oracle was the company's biggest target.

"We believe Oracle is incredibly vulnerable because they've lost the developer's heart and soul," Ittycheria said.

When MongoDB goes public, it will be the seventh so-called unicorn — a private startup company valued at $1 billion or more — to do so this year.

SEE ALSO: A $1.6 billion startup that's aiming to take business from Oracle just filed to go public

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Hewlett Packard Enterprise is reportedly laying off 5,000 workers globally

• Becky Peterson
 

• 17h
• 11,094

HPE CEO Meg Whitman is reportedly slashing jobs again.Tom Pennington/Getty

HPE HP Enterprise

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Hewlett Packard Enterprise is cutting 5,000 jobs as part of a wider effort to slash costs at the company, Bloomberg reported.

The layoffs will affect about 10% of HPE's workforce, including employees both in the US and abroad, according to the report. HPE will start making the cuts before the end of the year, Bloomberg said. 

HPE, which focuses on servers, software, and consulting services for businesses, has offices around the world, including in China, Brazil, and Switzerland. It split from Hewlett Packard in 2015 to become a separate company under CEO Meg Whitman. 

In its short two years as an independent organization, HPE has already undertaken several rounds of layoffs. Whitman announced a major restructuring in June 2016, which saw the departure of numerous company veterans and the consolidation of its sales organization.

HPE did not respond to a request for comment.

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JPMorgan retains supremacy as the king of Wall Street

• Alex Morrell
 

• 2h
• 11,318

JPMorgan still reigns supreme, while Goldman Sachs is having a rough go of it.Thomson Reuters

The latest ranking of Wall Street supremacy is out, and there's a notable shift at the top of the league tables.

JPMorgan once again dominated the competition in the first half of the year for revenue across fixed income, equities, and banking, according to the data-analytics company Coalition.

The largest bank by assets in the US hauled in $13.2 billion in revenue through half of 2017 — up from $12.5 billion at last year's midpoint — ranking No. 1 in investment banking and FICC (fixed income, currencies, and commodities) and tying for first in equities with Morgan Stanley.

But Goldman Sachs, which has recently occupied or shared the No. 2 overall spot — including in the full-year results for 2016 — has slipped to third in a tie with Bank of America Merrill Lynch.

Citi now has sole possession of second place, thanks to a strong showing in FICC. Within that business, Citi ranked No. 1 in emerging-markets macro, commodities, and municipal finance and No. 2 in G10 rates.

Goldman's drop is notable but not surprising. Its bond-trading unit has had an abysmal year, with second-quarter FICC revenue falling 40% lower than the second quarter of 2016 and 31% below its weak first quarter — its worst performance in recent years.

Trading has been gloomy across Wall Street, but Goldman Sachs in particular has suffered. That's reflected in the tables, with Goldman dropping from the top three in FICC and from second to third in equities.

Goldman Sachs' loss is Bank of America Merrill Lynch's gain. The firm tied for third overall, leapfrogging Goldman in FICC revenue and tying Goldman for second in investment-banking revenue.

The top five banks overall were all based in the US.

Here's the global ranking, plus the rankings broken down by region:

View As: One Page Slides

JPMorgan cleaned up, taking first in each of the three broad categories and placing in the top three of every line of business.

Coalition

Likewise, JPMorgan set the pace in the regions, coming in first in the Americas and Europe, the Middle East, and Africa. Citi was tops in Asia.

Coalition

For comparison, here's the league-table results from the full-year 2016. As noted, Goldman Sachs dropped in a few areas of business in the first half of 2017.

Coalition

Get the latest Bank of America stock price here.

More: Features coalition League Tables investment banking