Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
Databricks is seeking to raise between $7 billion and $9 billion to buy out employee stock, according to sources. The company aims to achieve this at a valuation of approximately $61 billion. The raised funds would enable Databricks to buy back at least 33% of the company based on current public multiples. The move is intended to cash out employees holding restricted stock units.
Just IPO! "Databricks is looking to raise $7 billion to $9 billion"
Source: Databricks has told investors it is looking to raise $7B to $9B at a ~$61B valuation, to cash out employees that hold restricted stock units (@coryweinberg / The Information) https://t.co/iA0aMDIc9E š« Subscribe: https://t.co/OyWeKSRpIM https://t.co/eTP5wBpYf2
Based on current public multiples, this would enable Databricks to buy-back at least 33% of the company (less would be overpaying massively). https://t.co/novLUi5wfW