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Analytics and AI goliath Databricks reportedly paid nearly $ 2 billion when itacquired Tabularin June , a startup that was only doing $ 1 million in annual repeat revenue , accord toBloomberg . That ’s a fairly outrageous loss multiple , and it was purportedly fuel by a conflict between Databricks and Snowflake .
Tabular had over $ 30 million in financial support , back by Altimeter Capital , Andreessen Horowitz and Zetta Venture Partners , when it was acquired just three years after it was founded . Tabular ’s rating was tied to Apache Iceberg , a popular capable generator table data formatting that the startup ’s founders created while at Netflix . The startup cursorily became an expensive cat’s-paw in the warfare between Databricks and Snowflake . In fact , some Databricks employees were reportedly ask to wish or share their chief operating officer ’s LinkedIn posts dunking on Snowflake , fit in to Bloomberg .
Snowflake ’s stock Mary Leontyne Price has fallen 36 % this year , with its market cap of roughly $ 43 billionequalto Databricks ’ current evaluation . It did n’t assist thatSnowflake was linked to a monolithic data breachaffecting “ nigh all ” of AT&T ’s customers in July .
