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Intel & Red Hat Tuck Money in 10gen’s Jeans
It means to use the undisclosed amount of money for product development
By: Maureen O'Gara
Nov. 29, 2012 07:00 AM
10gen, the open source document-oriented MongoDB creator, says Intel Capital and Red Hat have made strategic investments in it.
It means to use the undisclosed amount of money for product development and support of its rapidly growing worldwide community and user base. It has visions of being the top NoSQL database on the cloud and is reportedly hiring.
It doesn't need the money. It's up to Series E and got $42 million in September from VCs - who supposedly valued the company at between $500 million and $550 million - followed by an undisclosed investment from the CIA's venture arm In-Q-Tel. Since 2009 the start-up has gotten more than $73.4 million and with these last two undisclosed investments TechCrunch thinks the total amount is now around $81 million.
That would mean, given filings, that Intel and Red Hat tucked $7.6 million in 10gen's jeans; and the CIA may have been good for $400,000.
It's Intel's first investment in the NoSQL market. It's reportedly thinking about future hardware designs that accommodate parallel processing and solid-state drives.
Red Hat is expanding its technical and go-to-market collaboration with 10gen. Its OpenShift PaaS, Linux distribution and JBoss Middleware support MongoDB; and it's thinking about hybrid clouds.
MongoDB isn't like Oracle; it doesn't use SQL or store data in tables and rows; and it focuses on unstructured data.
Thousands of organizations are supposed to be using MongoDB, mostly on x86 machines, for operational intelligence, content management, product data management, high-volume data feeds, user data management and Hadoop.
10gen's nearest competitor is CouchBase.
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