SAN FRANCISCO, May 6, 2021 /PRNewswire/ -- 'The Dark horse' in the Korea IPO market, Bitnine, pioneering Graph DB with a multi-model solution is promoting listing on the KOSDAQ in the first half of 2021.
Bitnine announced on the 3rd that it had submitted a preliminary request for listing on the KOSDAQ on the 28th. Since Bitnine obtained an A grade or higher from two specialized evaluation agencies designated by Korea Exchange last December, the company has started a full-fledged IPO schedule.
Considering that it usually takes about 2 months from the preliminary review to listing, Bitnine will be able to enter the KOSDAQ as early August. Hana Financial Investment was in charge of the listing.
Bitnine was established to become a global DB company in 2013. Since entering the US Silicon Valley in 2016, most R&D researchers have been actively assigned to local personnel, and have successfully achieved 'the globalization of database R&D'. In 2017, it launched the world's first multi-model solution that processes relational DB and graph DB simultaneously, "Agensgraph", and has been conducting sales activities in the global market.
Bitnine was established to be a global leading DB company in 2013. Since entering US Silicon Valley in 2016, its local workforce has been assigned as R&D researchers and have successfully achieved 'the globalization of Database R&D'. In 2017, the world's first multi-model solution processing relational DB and graph DB simultaneously, Agensgraph, has been expanding its sales activities in the global market.
In a fast-growing graph DB market, Bitnine is also known as one of the leading DB vendors in the world that have secured original technology by an early stage. It has been building high technical barriers by successfully diversifying business models such as Graph Analytics, Cloud graph services, and Graph DB products. In particular, it has improved the sales structure in high value-added areas such as the sales of graph DB license and supply of analysis service by growing out of SI sales with low added value.
Bitnine's strategy to expand its business model has been evaluated to strengthen its reputation in the global market. Bitnine's impact in the global market has already been proven through the 'Apache AGE' project underway by US Apache Foundation. Bitnine plans look at the successful completion of the project (as known as Top-Level Project) and commercialization and then listing on the NASDAQ within a few years.
Bitnine CEO, Kang Cheol Soon said "Bitnine will solidify its position as a global graph DB company based on the KOSDAQ listing, and expand its market power to APAC, Europe, Middle East and further.