Rumour: Databricks going public next year

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Data-analysis company Databricks appears to be planning to make its stock market debut next year. This is according to anonymous sources.

According to the anonymous sources, that have spoken to Bloomberg, the discussions are still at an early stage. The company is said to have already spoken to banks but hasn’t yet hired any underwriters.

Related: Will Databricks lakehouses change the AI and data world?

Higher value

Last year, when the company raised 400 million dollars in a funding round, it was valued at 6.2 billion dollars. Bloomberg’s sources indicate that the company is aiming for a significantly higher price than that.

Databricks plans to enter the stock market in the first half of 2021. According to the sources, these plans can still change. A Databricks representative declined to answer Bloomberg’s questions.

Lakehouse

Earlier this year, Techzine published an article of Databricks’ new lakehouse idea. The technology is supposed to combine the best sides of the data warehouse and the data lake.

Also read: Databricks sees open-source as the way to innovate in data science