Databricks is on track to raise a record $9.5+ billion round at $60B valuation

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Databricks is close to finalizing a $9.5 billion round at a $60 billion valuation, including a secondary sale for employees that could climb even higher before it closes, Reuters reports. Just 17 days ago, Reuters reported that the deal was at $8 billion and a $55 billion valuation. Thrive Capital is leading the deal with returning investors Andreessen Horowitz, Insight Partners, and Singaporean sovereign wealth fund GIC.

This is bigger than OpenAI’s $6.6 billion raise in October, the largest round of all time, also led by Joshua Kushner’s Thrive (pictured). Databricks might also take on $4.5 billion of debt as part of this deal.

Despite the jaw-dropping numbers, VCs feel that the reported $92.50 per share is a bargain given Databricks’ biggest competitor is Snowflake, one of tech’s most successful IPOs. That company currently has a market cap around $56 billion.



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Lisa Holden
Lisa Holden
Lisa Holden is a news writer for LinkDaddy News. She writes health, sport, tech, and more. Some of her favorite topics include the latest trends in fitness and wellness, the best ways to use technology to improve your life, and the latest developments in medical research.

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