Big IT companies investing in start-up
A line-up of big IT companies is investing in start-up Databricks that makes software to analyze huge sets of data. The company announced that it has raised USD 1 billion in cash. Among investors are Amazon, Google-owner Alphabet, Microsoft and cloud-computing service Salesforce, a statement from Databricks shows.
The transaction values Databricks at USD 28 billion. The company is specialized in analyzing and storing massive quantities of data and is also developing artificial intelligence models for organizations and companies.
Databricks was founded 2013 as a spin-off of a project at University of California, Berkley and has around 1 500 employees. Head office is in San Francisco. CEO is since 2016 Ali Ghodsi, one of the founders.
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