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Databricks reaches $50 billion valuation by end of 2024?
5
Resolution / Starting Odds
Yes • 50%
No • 50%
Official company financial statements, major financial news outlets
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Databricks Acquires Tabular for Over $1 Billion to Enhance Data Lakehouse Strategy
Jun 4, 2024, 05:06 PM
Databricks, a prominent analytics and AI company, has announced its acquisition of Tabular, a data management startup known for optimizing cloud-stored data. The acquisition aims to enhance Databricks' data lakehouse strategy by bringing format compatibility to the lakehouse for Delta Lake and Apache Iceberg. Tabular, created by the original creators of Apache Iceberg, will help Databricks strengthen its position in the competitive data management market, particularly against rivals like Snowflake. The financial terms of the deal were not disclosed, but sources indicate the acquisition is valued at over $1 billion. Tabular's co-founder, Ryan Blue, expressed enthusiasm about the collaboration, highlighting the potential for improved interoperability within the data lakehouse ecosystem.
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