MongoDB shares plunge on concerns that Lyft could be moving to rival Amazon service
Summary
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 didnt 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 Mongos performance and is in the process of a massive database migration. The companys annual report doesnt mention Lyft and says that no customer represents more than 10 percent of revenue. The stocks 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.
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