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‘It’s dumb to IPO this year’: Databricks CEO explains why he’s waiting to go public
Databricks just closed one of the largest funding rounds ever, raising a staggering $10 billion in fresh capital. Naturally, technology investors were
We wanted to get some stability – people are worried about interest rates, inflation… So we said look, it’s dumb to IPO this year, so we’re definitely going to wait,” said Ghodsi during an interview with Dan Primack during the Axios AI Summit. That effort to demonize Snowflake came at a hefty price, reportedly causing Databricks to pay $2 billion to acquire a tiny startup called Tabular. Ghodsi says data and AI will continue to play a slightly more important role in people’s lives every year, and he thinks his company is well-positioned to fill that niche.
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