Microsoft-Backed Databricks Plans IPO Next Year

Databricks is preparing an initial public offering that could come in the first half of 2021.

Discussions are at an early stage and the company has held talks with banks but has yet to hire underwriters.

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San Francisco-based Databricks is aiming to go public at a price significantly higher than the valuation in its last funding round ($6.2B).

Databricks has raised about $900 million from backers including Andreessen Horowitz, Coatue ManagementNew Enterprise AssociatesTiger Global ManagementBlackRock Inc. and T. Rowe Price Group Inc. Its backers also include Battery VenturesSinewave VenturesIn-Q-Tel and Data Collective.