BREAKINGVIEWS-Databricks smartly uses a private funding lull

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

By Pranav Kiran

TORONTO, June 18 (Reuters Breakingviews) - The data firm plans to tap private markets at a valuation of up to $175 bln, rather than IPO this year. SpaceX and Anthropic are hogging the limelight for public debuts. Databricks is deftly using the capital left behind, while outmatching its listed rival Snowflake too.

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CONTEXT NEWS

Data analytics software firm Databricks has discussed raising funds in a round that could begin next month and value it at between $165 billion and $175 billion, The Information reported on June 8, citing unnamed sources.

“We will be a public company. I just think this is a terrible year to go public,” CEO Ali Ghodsi told Bloomberg on June 4.


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