Why MongoDB Stock Soared Today
Shares of MongoDB (NASDAQ: MDB) surged by 15% on Wednesday after the cloud database company expanded its strategic collaboration agreement with Amazon.com (NASDAQ: AMZN).
Over the next six years, MongoDB and Amazon Web Services (AWS) will work together to help more businesses migrate their database operations to the cloud. MongoDB and AWS will integrate some of their sales initiatives, developer training offerings, and technological processes.
Particular focus will be placed on MongoDB's popular Atlas cloud data platform. In the fourth quarter, the service's customer base grew by more than 35% year over year to over 31,500, while its revenue rocketed upward by 85%.
Source Fool.com
