- General
- October 24, 2020
- 5 minutes read
Databricks Eyes Soon IPO
Matei Zaharia, Co-Founder and Chief Technologist, Databricks. Photo credit: O’Reilly Conferences, licensed under CC BY-NC 2.0 Databricks, a San Francisco-based data analytics startup…
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| Matei Zaharia, Co-Founder and Chief Technologist, Databricks.
Photo credit: O’Reilly Conferences, licensed under CC BY-NC 2.0
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Databricks, a San Francisco-based data analytics startup backed by investors including tech giant Microsoft, is targeting a soon public listing that could come in the first half of next year, according to a report [paywalled] by Bloomberg. According to Bloomberg, Databricks has held talks with banks over an IPO but hasn’t yet hired underwriters. The company is apparently looking to go public after just seven years of staying private wherein it’s seen huge success and raised hundreds of millions of dollars in funding.
Databricks is known to have raised about $900 million in equity funding since its inception. The company’s most recent funding round was a $400 million Series F that came in October last year and placed its valuation at $6.2 billion. Databricks has raised funding from a host of investors including big names like Microsoft, BlackRock, Tiger Global, Andreessen Horowitz, and the Dragoneer Investment Group.
Databricks is a data analytics platform that was founded by the original creators of the ‘Apache Spark’ open-source cluster-computing framework. The company grew out of the ‘AMPLab’ big data analytics project at the University of California, Berkeley.
As a company, Databricks has seen huge success and just recently crossed a $350 million annual run rate. The company is based out of the city of San Francisco in California but also maintains other offices both in the US and abroad, with locations in Canada, the UK, The Netherlands, Germany, Australia, France, Japan, China, India, and Singapore.
