Databricks Is Undeterred by Wall Street's Skepticism of the Software Industry
- Closely held company generated $800 million in ARR in 2021
- Investors wary of software vendors after pandemic bounce
Ali Ghodsi
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Databricks Inc., one of the most valuable startups in the U.S., is still planning an initial public offering even as Wall Street has become more skeptical about growth in the software industry, according to Chief Executive Officer Ali Ghodsi.
Volatility in the stock market “doesn’t affect IPO timing,” Ghodsi said in an interview. “We’re not in a super hurry to IPO. We’re not pushing it out or anything like that. We’re on a long journey.”