namenotrequired parent
Why Databricks would do this (rather than IPO) is obvious. When you can raise privately, it’s way easier than IPO. The real question to me is why the investors (new and previous) are going along with it?
Because it is a better valuation than what they would get in the public markets with an IPO?
You'd think previous investors would want some actual liquidity though at some point. The early investors have had plenty of chances now but surely not everyone's been able to cash out. But hey, they have lots of funny money now I guess?
if thrive and andreeseen who are both very old investors are leading the round, clearly they are doubling down on it