Deals
Microsoft-Backed Databricks Plans IPO Next Year
- Big data company is preparing IPO for first half of year
- IPO plan comes on the heels of Snowflake’s successful debut
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Databricks Inc., whose business overlaps with data and analytics software maker Snowflake Inc., is preparing an initial public offering that could come in the first half of 2021, according to people with knowledge of the matter.
Discussions are at an early stage and the company has held talks with banks but has yet to hire underwriters, said the people, who asked not to be identified discussing private information. The company’s plans could still change, they said.