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SEOUL, South Korea, Dec. 22, 2021 /PRNewswire/ -- Bitnine Global Inc, a graph database R&D company, was listed on the stock market (KOSDAQ) in November. KOSDAQ is Korea's electronic stock market, led by technology-based venture companies. Bitnine's market debut is the first specialized graph DB company in the world and the first database company in Korea.
It is evaluated that this is attributed to Bitnine's technical competitiveness, future growth, and economic feasibility based on its remarkable graph database market share (more than 90%) in Korea.
Since 2016, Bitnine has been targeting the global market by establishing Global HQ in Bay area, San Francisco. In 2017, it launched the world's only integrated query multi-model database, AgensGraph. It brings out the best performance based on Hybrid Query Processing technology which simultaneously performs the query for relational and graph data in one query.
Based on Bitnine's remarkable technology, it is expecting its business area not only in the financial industry such as banking, insurance, and payment companies, but also in manufacturing, IT, entertainment, education, and public sectors. Bitnine has supplied its product, AgenGraph to global conglomerates such as Samsung, SK, Intel, as well as the various governmental institutions such as the United Nations. Its sales have reached $15M(2020) per year.
Moreover, Apache AGE, developed by Bitnine and donated to the Apache Foundation, was ranked to an incubating project last year (2020, April). It is planned to be promoted to the Top-Level Project in January 2022. Apache AGE is an extension program providing graph database features in relational databases (RDB), PostgreSQL. After a promotion to Top-Level Project, Bitnine is preparing to release a commercial version of AGE that enables graphs in all RDB.
Meanwhile, Bitnine has succeeded in attracting market capital through this IPO. The inflowed funds will be used for research and development of new solutions, business expansion in various fields, and marketing activities.
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