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Databricks is close to closing a $9.5 billion round at a $60 billion valuation, including an employee secondary sale that could rise further before it closes. Reuters reports. Just 17 days ago, Reuters reported The deal amounted to $8 billion and a valuation of $55 billion. Thrive Capital is leading the deal with returning investors Andreessen Horowitz, Insight Partners and Singapore sovereign wealth fund GIC.
This is larger than OpenAI’s $6.6 billion raised in October, its largest round ever which was also led by Thrive’s Joshua Kushner (pictured). Databricks may also assume $4.5 billion in debt as part of this deal.
Despite the staggering numbers, venture capitalists feel the reported price of $92.50 per share is a bargain given that Databricks’ biggest competitor is Snowflake, one of the most successful IPOs in technology. This company currently has Market value is about $56 billion.
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