The CEO of Couchbase is Taking the Database Company Public

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Jul. 22 2021, Published 8:06 a.m. ET

CEO, president, and board member of the open-source database Couchbase Matt Cain took over the top position of the company in April of 2017. Since then, he's seen big successes for the company including funding rounds that have brought in hundreds of millions of dollars. Now, he's got different plans for the company. Couchbase has filed an IPO and the company is going public.

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Even though he has an extensive resume, this is far from Matt's first tech job. According to his LinkedIn, he was also president of Worldwide Field Operations at Veritas Technologies and was Senior Vice President at Symantec. Because of these executive-level salaries, Matt has likely earned a net worth large enough to make him a millionaire.

What is Matt Cain's net worth?

Although there isn't public information about how much Matt is worth and he doesn't share his personal life on social media, there are some things we do know. According to Comparably, executives at Couchbase make an average of $275,468 per year. His LinkedIn also says that he's based in Mountain View, Calif. According to Zillow, homes in this area average close to $2 million. It also says that the value of homes in that area have gone up by 8.3 percent over the past year.

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In addition to that, Couchbase is estimated to be worth hundreds of millions of dollars. According to Tech Crunch, PitchBook data most recently valued the company at $850 million after it earned over $105 million in funding in May 2020. The company also has revenue through subscriptions they've sold to large companies. Before the end of fiscal 2021, the company had secured more than 500 such clients.

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Through their client base, Couchbase made $107.8 million in annual recurring revenue by the close of the previous year. These metrics likely boost Matt's net worth if his salary includes performance bonuses. And if Couchbase does well in the public sector, stock options will increase his net worth that much more. Here's what we know about the company's IPO plans.

When is Couchbase's IPO date?

In an interview with The Cube in Nov. 2019, Matt said that Couchbase is on a "phenomenal trajectory." He says the company's numbers have gone up by 70 percent year over year. However, Market Watch reports that the company had a net loss of $16.1 million this year in the quarter that ended on April 30 and has seen other setbacks over the years.

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According to its S-1/A filing, Couchbase stocks will cost $20 to $23 per share with seven million shares available. However, it has registered just over eight million shares total. The company will be listed on the NASDAQ under the ticker "BASE" but there has been no date set for the IPO. Where the approximate date would be given, Couchbase says it will go public "as soon as practicable after this registration statement becomes effective."

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