Databricks reportedly paid $2 billion in Tabular acquisition

Quick Summary:

Analytics and AI giant Databricks reportedly paid nearly $2 billion when it acquired Tabular in June, a startup that was only doing $1 million in annual recurring revenue, according to Bloomberg.

That’s a pretty outrageous exit multiple, and it was purportedly fueled by a battle between Databricks and Snowflake.

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Article Details

Author / Journalist: Maxwell Zeff

Category: Technology

Markets: United StatesIndia

Topics: Snowflake Databricks TC Enterprise In Brief

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-14 @ 16:44:19 (11 hours ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 758 words

Reading Time: 5 minutes read

Sentences: 37 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 22079982

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