A close-up of the Databricks company logo on the Rincon Hill building facade in San Francisco on June 7, 2024.
Smith Collection/Gadot | Archive Photos | Getty Images
Databricks, one of the most valuable private companies, announced a $10 billion round of financing on Tuesday, valuing the software maker at $62 billion.
With the funding, Databricks will be able to provide liquidity to current and former employees, pursue acquisitions and expand overseas, a statement said. The company’s new valuation is $43 billion 2023. snowflake As of Monday’s close, its market capitalization was about $57 billion.
Databricks sells software for analyzing and cleaning data, and also runs artificial intelligence models for clients. The software is available in Amazon, Google and Microsoft Cloud, they are also competitors.
Databricks said it expects to generate positive free cash flow for the first time in the quarter ending January 31, with a revenue run rate of $3 billion. The company’s revenue in the October quarter was up more than 60% year over year.
To date, the round has raised $8.6 billion, with investors including Thrive Capital, Andreessen Horowitz, DST Global, GIC, Iconiq Growth, Insight Partners, MGX, Sands Capital, WCM Investment Management and Wellington Management.
Technology investors have been anticipating Databricks’ IPO for years. They may just have to wait a few more months.
Serve Titanis a company that provides software to plumbers and other workers in other industries, and proposed Approximately US$625 million Amid last week’s initial public offerings, some investors predicted that tech IPOs would become more frequent again in 2025 after a relative drought since late 2021.
Databricks provided no new information Tuesday about its IPO expectations.
“If we’re going to go, the earliest would be the middle of next year or something like that,” Databricks co-founder and CEO Ali Ghodsi said at the Cerebral Valley AI Summit in November.
Late-stage investors with large sums of money don’t have much choice in who they back, Godsey said.
“Really, there’s no place to put it except Databricks, Stripe, or, you know, maybe OpenAI,” Ghodsi said.
Databricks made its contribution fourth appearance Named to CNBC’s 2024 Disruptor 50 list of private companies.
