Recently covered ProWellTech The financial performance of Databricks in 2020, in contrast to its recent performance with some historical data from 2019 shared by the company.
The data and analytics-focused unicorn has increased its annual run rate by 75% to $ 350 million, compared to the quarter a year ago, meaning the company is growing well on a large scale. ProWellTech described him as "an obvious IPO candidate" at the time, just under two weeks ago.
The Exchange explores startups, markets and money. Read it every morning on Extra Crunch or get The Exchange newsletter every Saturday.Since that time, Bloomberg has reported that Databricks is actually loading an IPO, a transaction that could arrive as early as the first half of 2021, writing that it "has held talks with banks but has yet to hire underwriters" for its listing.
This is news enough to have fun. So this morning we gather everything we know about the financial performance of the company, mix up some current market valuation metrics, and make a slight projection of Databricks growth. Our question? What could be the company's value at the end of the first quarter or the second quarter of next year.
Of course, there are some troubling signs on the horizon that the stock market is about to move lower, but hey, you don't need to be pessimistic this early on a Monday morning. Let's get into mathematics.
Potential Databricks IPO valuations
Starting with a bit of history, Databricks was worth $ 6.2 billion after the September 2019 Series F capital round. The company raised $ 400 million in the transaction, its largest round to date of $ 150 million. That capital should lead the company to a H1 2020 IPO, provided its spending hasn't gone like old-school Dropbox.
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