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MySQL AB, the company behind the open source MySQL database is planning for an IPO. According Marten Mickos, CEO of MySQL:

It’s still in the pipeline. We’re making good progress, doing all the things we need to get done.

Marten however did not commented on when this will actually happen. MySQL generated revenues of $50 million in 2006, up from $34 million in 2005 and $6.5 million in 2002. The company is still not profitable, but has managed to break even.

People familiar with the IPO process has advised MySQL to delay it as much as possible, because of the hurdles involved in operating as a public company. MySQL nevertheless wants to do it in order to get access to clients who only wants to deal with public companies.

MySQL database has grown to be a powerful and potent competitor to commercial offerings like the one from Oracle. Marten however runs down competition by saying:

We’re not trying to eat Oracle’s lunch. We’re trying to eat their dessert. We love to compete with them and win customers from them. At the same time, we don’t want to fall into this David-vs.-Goliath strategy where everyone says ‘Go, MySQL, go! Go kill Oracle!’ There’s an old Chinese (proverb): if you focus on one competitor, ultimately you become like them, and we don’t want to do that.

Oracle at one point in time offered to buy MySQL, which was turned down by MySQL. The database is an integral part of the popular “LAMP” stack of software that comprises of Linux as the operating system, Apache as the webserver, MySQL as the database backend, and PHP as the scripting language.

With the new clustering capabilities MySQL now could scale almost infinitely. If anyone wants to have a testimonial about MySQL, consider this:”Adwords, Google advertisement system, runs on MySQL.” The company was founded in Sweden by two Swedes and a Finn: David Axmark, Allan Larsson and Michael “Monty” Widenius who have worked together since the 80’s.