Databricks reportedly paid $2 billion in Tabular acquisition

Analytics and AI giant Databricks reportedly paid nearly $2 billion when it acquired Tabular in June, a startup that was only doing $1 million in annual recurring revenue, according to Bloomberg. That’s a pretty outrageous exit multiple, and it was purportedly fueled by a battle between Databricks and Snowflake. Tabular had over $30 million in funding, backed by Altimeter Capital, Andreessen Horowitz and Zetta Venture Partners, when it was acquired just three years after it was founded. Tabular’s valuation was tied to Apache Iceberg, a popular open source table format...