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🚨Databricks is on track to raise a record $9.5+ billion round at $60B valuation
Databricks is nearing completion of a $9.5 billion funding round at a valuation of $60 billion, which includes a secondary sale for employees. This marks an increase from a previous report just 17 days ago, which noted an $8 billion deal and a $55 billion valuation. Thrive Capital is leading the investment, joined by returning investors such as Andreessen Horowitz, Insight Partners, and GIC.
This funding round surpasses OpenAI's record $6.6 billion raise from October. Additionally, Databricks may take on $4.5 billion in debt as part of the deal. Despite the large figures, venture capitalists view the $92.50 per share price as a bargain, especially compared to Databricks' main competitor, Snowflake, which has a market cap of around $56 billion.
🚨Databricks is on track to raise a record $9.5+ billion round at $60B valuation
Databricks is nearing completion of a $9.5 billion funding round at a valuation of $60 billion, which includes a secondary sale for employees. This marks an increase from a previous report just 17 days ago, which noted an $8 billion deal and a $55 billion valuation. Thrive Capital is leading the investment, joined by returning investors such as Andreessen Horowitz, Insight Partners, and GIC.
This funding round surpasses OpenAI's record $6.6 billion raise from October. Additionally, Databricks may take on $4.5 billion in debt as part of the deal. Despite the large figures, venture capitalists view the $92.50 per share price as a bargain, especially compared to Databricks' main competitor, Snowflake, which has a market cap of around $56 billion.
Telegram auto-delete message, expiring invites, and more
elegram is updating its messaging app with options for auto-deleting messages, expiring invite links, and new unlimited groups, the company shared in a blog post. Much like Signal, Telegram received a burst of new users in the confusion over WhatsApp’s privacy policy and now the company is adopting features that were already part of its competitors’ apps, features which offer more security and privacy. Auto-deleting messages were already possible in Telegram’s encrypted Secret Chats, but this new update for iOS and Android adds the option to make messages disappear in any kind of chat. Auto-delete can be enabled inside of chats, and set to delete either 24 hours or seven days after messages are sent. Auto-delete won’t remove every message though; if a message was sent before the feature was turned on, it’ll stick around. Telegram’s competitors have had similar features: WhatsApp introduced a feature in 2020 and Signal has had disappearing messages since at least 2016.
Traders also expressed uncertainty about the situation with China Evergrande, as the indebted property company has not provided clarification about a key interest payment.In economic news, the Commerce Department reported an unexpected increase in U.S. new home sales in August.Crude oil prices climbed Friday and front-month WTI oil futures contracts saw gains for a fifth straight week amid tighter supplies. West Texas Intermediate Crude oil futures for November rose $0.68 or 0.9 percent at 73.98 a barrel. WTI Crude futures gained 2.8 percent for the week.
