These are the big IPOs to watch in 2021: FirstMark Capital’s Rick Heitzmann
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Databricks is among the leaders of US cloud companies
IT startup Databricks, engaged in data processing and analysis, announced the attraction of fresh investments of $ 1 billion, including from several well-known participants in the corporate market.
New Investors Include Amazon Web Services, Alphabet and Salesforce Ventures. Microsoft, which previously contributed to Databricks, still maintains the project.
Financial affairs Databricks, which is valued at $ 28 billion, shows that the company ranks among the top US cloud service providers with products and services similar to Snowflake, another segment leader.
Databricks rose to prominence with the launch of Apache Spark, a technology for storing various kinds of data in huge quantities. The service is able to visualize and process information in the same way as Tableau, owned by Salesforce. Databricks software provides companies with an easy way to run this kind of operation without having to worry about setting up and updating the platform. The company also increasingly helps organizations implement artificial intelligence models in their business.
«We are a 100 percent cloud company», – said the CEO of Databricks Ali Godsey in an interview with CNBC in 2019. The same principle applies to Snowflake, which Salesforce has invested in and demonstrated strong revenue growth after its IPO last year.
Amazon, the largest cloud provider, didn’t invest in Snowflake until it went public. The corporation took a course towards investing in databases at a later stage than she did before.