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Thrive Capital in talks to invest about $1 bln in Databricks, Bloomberg News reports
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Thrive Capital in talks to invest about $1 bln in Databricks, Bloomberg News reports
Nov 13, 2024 7:01 PM

Nov 13 (Reuters) - Thrive Capital is in talks to acquire

about $1 billion stake in analytics software maker Databricks in

a deal that would value the startup at about $55 billion,

Bloomberg news reported on Wednesday, citing people familiar

with the matter.

Thrive is expected to lead a share sale, also known as a

tender offer, for the company, the report added.

Databricks and Thrive Capital did not immediately respond to

Reuters' requests for comments.

Last year, analytics and artificial intelligence giant

Databricks was valued at $43 billion after it secured more than

$500 million in a funding round led by T. Rowe Price ( TROW ).

Venture capital firm Thrive earlier this year joined a group

of investors in OpenAI's $6.6 billion funding round, with

sources saying it committed $1.2 billion with an option for $1

billion more next year.

San Francisco, California-based Databricks' primary product

is a technology for holding huge troves of corporate data in a

way that makes it easy to access and analyze.

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