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🚨Insight VC describes Databricks’ wild $10B deal and the bad advice the CEO ignored
Databricks recently completed a record-breaking $10 billion fundraising round, attracting significant interest from investors, including Insight Partners and Thrive. The deal's valuation quickly escalated from approximately $8 billion to $10 billion, reflecting strong institutional demand for Databricks' offerings, especially in the AI and data infrastructure space.
CEO Ali Ghodsi initially sought advice from Insight's George Mathew about entering the data warehousing market, to which Mathew responded negatively. However, Ghodsi's decision to launch Databricks SQL has proven successful, positioning the company as a major competitor to Snowflake. Databricks is now on track for a $3 billion revenue run rate, highlighting its growth and the increasing relevance of high-quality data in the age of large language models.
🚨Insight VC describes Databricks’ wild $10B deal and the bad advice the CEO ignored
Databricks recently completed a record-breaking $10 billion fundraising round, attracting significant interest from investors, including Insight Partners and Thrive. The deal's valuation quickly escalated from approximately $8 billion to $10 billion, reflecting strong institutional demand for Databricks' offerings, especially in the AI and data infrastructure space.
CEO Ali Ghodsi initially sought advice from Insight's George Mathew about entering the data warehousing market, to which Mathew responded negatively. However, Ghodsi's decision to launch Databricks SQL has proven successful, positioning the company as a major competitor to Snowflake. Databricks is now on track for a $3 billion revenue run rate, highlighting its growth and the increasing relevance of high-quality data in the age of large language models.
Pinterest (PINS) closed at $71.75 in the latest trading session, marking a -0.18% move from the prior day. This change lagged the S&P 500's daily gain of 0.1%. Meanwhile, the Dow gained 0.9%, and the Nasdaq, a tech-heavy index, lost 0.59%.
Heading into today, shares of the digital pinboard and shopping tool company had lost 17.41% over the past month, lagging the Computer and Technology sector's loss of 5.38% and the S&P 500's gain of 0.71% in that time.
Investors will be hoping for strength from PINS as it approaches its next earnings release. The company is expected to report EPS of $0.07, up 170% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $467.87 million, up 72.05% from the year-ago period.
Should You Buy Bitcoin?
In general, many financial experts support their clients’ desire to buy cryptocurrency, but they don’t recommend it unless clients express interest. “The biggest concern for us is if someone wants to invest in crypto and the investment they choose doesn’t do well, and then all of a sudden they can’t send their kids to college,” says Ian Harvey, a certified financial planner (CFP) in New York City. “Then it wasn’t worth the risk.” The speculative nature of cryptocurrency leads some planners to recommend it for clients’ “side” investments. “Some call it a Vegas account,” says Scott Hammel, a CFP in Dallas. “Let’s keep this away from our real long-term perspective, make sure it doesn’t become too large a portion of your portfolio.” In a very real sense, Bitcoin is like a single stock, and advisors wouldn’t recommend putting a sizable part of your portfolio into any one company. At most, planners suggest putting no more than 1% to 10% into Bitcoin if you’re passionate about it. “If it was one stock, you would never allocate any significant portion of your portfolio to it,” Hammel says.
