MariaDB has celebrated going public a few weeks before the end of a year which has seen a dramatic shift in the fortunes of tech companies raising money on the world's stock exchanges.announced
The investment comes on the back of a difficult year for those hoping to raise cash by going public. Global consultancy EY just released its quarterly IPO data report showing in 2022 the number of US tech IPOs dropped 85 percent – from 128 to 19 – while their total valuation dropped 97 percent – from $69.4 billion to $1.6 billion compared to 2021.it was hard to see many database companies using stock exchanges as a funding model in the immediate future.
Angel Pond was started by CEO and chairman Ted Wang, the founder of Puissance Capital Management and a former partner at Goldman Sachs, and Simon Xie, co-founder of Alibaba Group. "For IPO in and of itself, it gave us an efficient and knowledgeable means to go public. Without having these people surrounding you, you're kind of a babe in the woods," Howard said.