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What will be Databricks' revenue for the year 2024?
5
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Less than $1 billion • 33%
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Databricks Acquires Tabular for $1B-$2B to Enhance AI and Compete with Snowflake
Jun 4, 2024, 05:11 PM
Databricks has announced its acquisition of Tabular, a data management startup founded by the creators of Apache Iceberg. The deal, valued between $1 billion and $2 billion, with some reports citing $1.5 billion, aims to enhance Databricks' capabilities in data lakehouse interoperability and AI. This acquisition will enable Databricks to bring format compatibility to its Delta Lake and Apache Iceberg communities, further solidifying its position in the data management and AI sectors. The move is seen as a strategic effort to compete with Snowflake, another major player in the data storage and analytics market. Tabular co-founder Ryan Blue expressed enthusiasm for the collaboration.
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