Databricks CEO on raising $1 billion in new funding
Databricks founder and CEO Ali Ghodsi joins \”Squawk Alley\” to discuss the company’s new round of funding and potential for going public. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi \n\nDatabricks, a start-up whose software helps companies quickly process large sets of data and get it ready for analysis, said Monday it has raised $1 billion in fresh cash, including from a few prominent corporate investors.\n\nAmazon Web Services, Alphabet’s CapitalG venture arm and Salesforce Ventures all joined in, according to a statement. Microsoft, which invested in Databricks earlier, is also participating in the new round, the statement said.\n\nThe transaction, which values Databricks at $28 billion, shows the top three U.S. cloud providers recognize that the company represents an opportunity similar to Snowflake, another firm with cloud software that helps companies manage data.\n\nDatabricks rose to prominence because it helped companies implement a version of Apache Spark, an alternative to the Hadoop technology for storing lots of different kinds of data in massive quantities. It can help clean up data for exploration in data visualization software such as Salesforce-owned Tableau. The Databricks software gives companies a simple way to run this sort of software, without having to worry about configuring and updating it. Databricks is also increasingly helping organizations deploy artificial intelligence models.\n\n“We’re 100 percent cloud-native,” Databricks CEO Ali Ghodsi told CNBC in a 2019 interview. That same principle applies to Snowflake, which Salesforce had also invested in and has demonstrated strong revenue growth following its initial public offering last year.\n\nAmazon, the largest cloud provider, did not put money into Snowflake before it went public. Now it’s investing in Databricks at a later stage than it has historically done.\n\n» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision\n» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC\n» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic\n\nTurn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.\n\nThe News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast \n \nConnect with CNBC News Online\nGet the latest news: http://www.cnbc.com/\nFollow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC\nFollow CNBC News on Facebook: https://cnb.cx/LikeCNBC\nFollow CNBC News on Twitter: https://cnb.cx/FollowCNBC\nFollow CNBC News on Instagram: https://cnb.cx/InstagramCNBC\n\nhttps://www.cnbc.com/select/best-credit-cards/ \n\n#CNBC\n#CNBCTV
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 became famous after the launch of Apache Spark, a technology for storing various types 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.