Amazon faces strong competition from MongoDB in cloud-based database race
Amazon is facing strong competition from tech giants Google and Microsoft in the race for cloud supremacy. But a different company is making its mark in this battle.
MongoDB is a free and open-source document database enabling clients to organize, use and enrich data in real time from anywhere. It is the first cloud-database company to go public in 25 years and despite its youth, the stock is up 160 percent year-over-year.
“We built a database that developers wanted for today’s modern applications and became widely popular,” MongoDB CEO Dev Ittycheria said during an exclusive interview with FOX Business’ Liz Claman.
The company has also rolled out a simpler and cost effective cloud-database called MongoDB Atlas, which runs on Amazon, Google and Microsoft. Ittycheria said it has grown 300 percent year-over-year.
“It basically allows [developers] to focus on what they do best (which) is build amazing application for their business,” he said.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 197.12 | -1.26 | -0.64% |
| GOOGL | ALPHABET INC. | 164.76 | -2.87 | -1.71% |
| MDB | MONGODB INC. | 332.50 | +17.06 | +5.41% |
| MSFT | MICROSOFT CORP. | 417.00 | +4.13 | +1.00% |
Amazon recently launched a new database tool called DocumentDB, which is compatible with MongoDB’s popular Atlas version.
Ittycheria said he isn't worried about taking on Amazon’s DocumentDB tool, which he described as an “imitation service” because MongoDB serves some of the most demanding and sophisticated customers.
“Customers like big banks, Morgan Stanley, HSBC, Barclays,” he said. “Large telecomm companies like AT&T Wireless, tech companies, media companies.”
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Epic Games' Fortnite, the popular online video game with 200 million players worldwide, runs on the MongoDB database.
