Database maker MySQL plans IPO as revenues top $50 million

[mandy]

MySQL, purveyor of the open-source database of the same name, is on the road to becoming a publicly traded company, bolstered by $50 million in revenue in 2006.

"It's still in the pipeline," Chief Executive Marten Mickos said of the plan to hold an initial public offering of his company's stock. He declined to discuss when the company planned to go public, but said, "We're making good progress, doing all the things we need to get done."...

While MySQL was borne of the Web, it's posing an increasing threat to existing database powers. In competitive bids, MySQL most often goes up against Oracle and Microsoft, Mickos said. But the company isn't trying to directly attack Oracle's core business; instead, it's angling to head the rival off in growth markets...

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