Databricks

History

2021

Acquisition of German firm 8080 Labs

Databases, a company specializing in development in the field, big data announced the acquisition of the German company 8080 Labs GmbH, the developer of the "low-code" analysis tool data bamboolib. The terms of the deal between Databases and 8080 Labs are not disclosed. More. here

Raising $1 billion from Google, Amazon, Microsoft, estimated at $28 billion

In early February 2021, Databases raised $1 billion from, Amazon Web Services CapitalG (a private company under management), Alphabet and, Salesforce Ventures Google Microsoft which had previously invested in Databases. The developer's valuation ON increased to $28 billion.

The financing round was led by Franklin Templeton, among new investors are Fidelity and Whale Rock. Investors from whom Databases has previously raised funds include Andreessen Horowitz, T. Rowe Price, Tiger Global, BlackRock, Coatue, Alkeon Capital Management.

The developer of data analysis software Databases raised $1 billion, its valuation reached $28 billion

By early February 2021, Databases is developing a series of four open source products, including a Delta Lake storage solution. Databases CEO Ali Godsey noted that the company initially planned to raise a much more modest $200 million, but the figure increased as more parties wanted to invest in the company. The company nevertheless decided to limit the round to $1 billion.

According to the CEO, the funds raised will be used for mergers and acquisitions, the creation of the Lakehouse concept, international expansion, as well as the expansion of the engineering team.

Godsey also made it clear that he does not intend to allow the percentage of revenue that the company spends on research and development to decrease, as is customary in modern software companies: as many SaaS companies grow, they spend more of their revenue on sales and marketing purposes, and not on product development itself. Databases wants to avoid this by continuing to invest in engineering personnel.

Godsey claims that the pace of AI innovation is so fast that IP will become obsolete in just a few years. This means that companies that want to lead in this area must either continue to invest in development, or retreat.^[1]

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