The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
MongoDB shares plummeted as much as 11 percent on concern that ride-hailing service Lyft is shifting business to a rival cloud database service run by Amazon Web Services.
AWS said on Tuesday that Lyft is going "all-in" with its public cloud, a phrase Amazon typically uses when a company decides to pull over the vast majority of its technology infrastructure. Lyft has long relied on aspects of AWS, but is now expanding its use of Amazon services for serverless computing, containers for moving workloads and machine learning, the statement said.
The AWS announcement didn't mention anything about MongoDB, but Christopher Eberle, an analyst at Nomura Instinet, published a report on Tuesday, claiming that Lyft is "is quite dissatisfied with Mongo's performance and is in the process of a massive database migration."
Eberle, who has the equivalent of a sell rating on MongoDB's stock and a $63 price target, said he believes Lyft is a "marquee customer" of MongoDB.
A MongoDB spokesperson declined to comment. The company's annual report doesn't mention Lyft and says that no customer represents more than 10 percent of revenue.
The stock's selloff was its steepest since Jan. 10, when the shares dropped on news that Amazon was rolling out cloud-based database software called DocumentDB to directly compete with MongoDB. Dev Ittycheria, MongoDB's CEO, said at the time that "imitation is the sincerest form of flattery" and that "developers are savvy enough to distinguish between the real thing and a poor imitation."
In Amazon's statement on Tuesday, the company didn't say anything about Lyft moving to DocumentDB, but referenced other AWS services the company will be using. Eberle wrote that DocumentDB still lacks "competitive functionality," but he highlighted other reasons to be concerned about MongoDB. Eberle sees a broader migration away from MongoDB and expects "the new database world will remain highly fragmented."
In terms of where Lyft is headed with its database, Eberle said that "based on industry conversations," it could be AWS or Google.
A Lyft spokesperson didn't immediately respond to a request for comment.
In December Lyft said it confidentially filed to go public and, when the prospectus is made public, it could provide an update about how cloud computing factors into its cost of revenue.
The core Lyft service has relied on AWS since it first became available in San Francisco in 2012. The company's AWS usage has grown over the years as the core app gained popularity. Lyft has also looked to AWS for its autonomous driving technology, as well as sharing for bicycles and scooters. Lyft now provides more than 50 million rides each month, up from 14 million in 2016.