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Databricks completed a billion-dollar financing round with a valuation of 55 billion dollars.
Ali Ghodsi, co-founder and CEO of Databricks, based in San Francisco, will refinance at least 5 billion dollars in the latest round of financing. Sources reveal that since this round of financing is still ongoing, the company may refinance up to 8 billion dollars. The latest round of financing will bring the company's valuation to 55 billion dollars. Sources state that the latest round of financing aims to help Databricks employees sell stocks. Reducing the pressure on employee cash-outs also decreases the demand for liquidity events such as IPOs. This round of financing has made Databricks highly anticipated.
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