Databricks is a leading data and AI company that will acquire data management startup Tabular for more than $1 billion. This investment plans to combine leading companies to improve data compatibility and technology while scaling up. Databrick is a California-based data analytics platform that uses various analytical and AI techniques. Here, we are talking about Data management startup Tabular to get acquired by Databrick for $1 billion.
Here, we are talking about Data management startup Tabular to get acquired by Databrick for $1 billion:
Databrick previously raised over $500 million In its funding round, valuing the startup at $43 billion. The funding was one of the biggest funding rounds for private tech startups. Both companies have open-source formats, so they are coming together to provide more innovative solutions. Databrick is an independent open-source company, and by revenue, it has provided 12 million lines of code and contributed to open-source projects. The company aims to provide an independent storage platform to its users. After this deal, both companies will have a profit, scale-up, increased technical skills, and more innovative ideas.
The company’s acquisition of tabular shows the company’s dedication to open data formats. The deal ensures that the company controls its data and avoids vendor lock-in. The company plans to invest in expanding after acquiring this data management startup. Databrick acquiring Tabular will help them integrate technology and professionals from both companies. Databricks provides a platform that combines both Artificial intelligence and Lakehouse to offer an open and unified foundation for all data. Tabular offers data warehouse facilities, including SQL behavior for cloud object storage and ACID transactions.
The company aims to enhance its platform and enable companies to upgrade it using artificial intelligence. This step by Databrick strengthens its resources and position in the market by offering its customers more robust data management and Artificial intelligence solutions. Founded by Ryan Blue, Dan Weeks, and Jason Reid, Tabular addresses the shortcomings of data infrastructure. The platform for Tabular was built by the original creators of Apache Iceberg.
Conclusion
Databrick is acquiring a data management startup, Tabular, for $1 billion. The acquisition is to strengthen the technology and help each other to create more innovative data and AI solutions. Databrick previously raised over $500 million In its funding round, valuing the startup at $43 billion. The funding was one of the biggest funding rounds for private tech startups. Databrick is an independent open-source company, and by revenue, it has provided 12 million lines of code and contributed to open-source projects. The company aims to provide an independent storage platform to its users.
The deal ensures that the company controls its data and avoids vendor lock-in. After acquiring this data management startup, the company plans to invest in expanding. Tabular offers data warehouse facilities, including SQL behavior for cloud object storage and ACID transactions. The company aims to enhance its platform and enable companies to upgrade it using artificial intelligence. Databricks provides a platform that combines Artificial intelligence and Lakehouse to offer an open and unified foundation for all data.
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