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Databricks IPO: Everything you need to know

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Axi Team
Everything you need to know Databricks IPO

American software company Databricks could go public this year in a blockbuster IPO. Databricks will join other well-known San Francisco-based tech companies such as Kraken and Reddit, in potentially one of the biggest IPOs in 2023.

The coronavirus pandemic hit many San Francisco-based startups, that were planning to go public last year but were instead caught up in the economic downturn. As things are gradually returning to normal this year, Databricks could be looking for a valuation in excess of $40 billion. Following its latest fundraising of $1.6 billion in August 2021, the company is worth around $38 billion.

 

Databricks company stats

Founded 2013
Headquarters San Francisco, California, United States
Number of employees 5,000
Revenue 2021 $600 million
Stock Exchange -
Potential Valuation $40 billion

Sources: Yahoo, Fortune.com

 

How does Databricks make money?

Databricks is a cloud-based platform that unifies and simplifies data systems, for better organization and collaboration within companies. Its software is used by both large enterprises and smaller businesses including several well-known companies such as Apple, Disney, HSBC, Shell, Condé Nast, and Atlassian.

Databricks was founded in 2013 by seven co-founders and has origins both in academia and the open-source community. In 2015, Databricks achieved the popularity needed to become a highly valued company. In 2021 the company’s CEO Ali Ghodsi announced that the company had achieved a $1 billion funding round.

Databricks has worldwide locations in four continents and twelve countries, including the US, Asia, Europe, and Australia, and over 5,000 employees globally.

 

The IPO: When, where and what to expect

Databricks is expected to be one of the most high-profile IPOs in 2023. The valuation could potentially exceed $40 billion.

Ali Ghodsi views an IPO as just one step towards making Databricks akin to Salesforce as well as a way to attract long-term investors. Talking about the plans to go public, Ali Ghodsi said last year that if the company’s revenue keeps growing at its current pace, he believes that “the stock price will take care of itself when the time comes.”

The IPO date has not been confirmed yet and more information about this IPO will become available closer to the IPO date.

 

3 steps to trade Databricks IPO with Axi

An Initial Public Offering (IPO) is an investor’s first chance to gain exposure to an organisation. An IPO is an important milestone for a company looking to raise capital and an opportunity for investors to get involved in a hopefully growing business.

With Axi you can get exposure to Databricks IPO as soon as it’s listed on a specific exchange and prices from the exchange become available to our liquidity providers.

  1. Login to your live MT4 trading account (sign up with Axi if you don’t have one)
  2. Navigate to market watch, right-click, and select ‘show all’. Search for Databricks.
  3. Choose your position and size and go long or short on share prices. Don’t forget to set risk management tools like a stop loss and take profit order. 

 

Sources: CNBC, Wall Street Journal, Bloomberg

 

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The data is sourced from third-party providers. This information is not to be construed as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product, or instrument; or to participate in any trading strategy. It has been prepared without taking your objectives, financial situation, or needs into account. Any references to past performance and forecasts are not reliable indicators of future results. Axi makes no representation and assumes no liability regarding the accuracy and completeness of the content in this publication. Readers should seek their own advice.



Axi Team

Axi Team

The Axi team is full of people with decades of financial industry experience and knowledge of almost every aspect of trading. The Axi Team blog, in addition to regular posts from our daily market analysis contributors, is a place to share wider insights and ideas. In this section, you’ll find posts about everything from Forex education and helpful hints for new traders to product updates and important market announcements. 


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