Databricks interrupted Snowflake's conference to announce the acquisition of a startup that can help companies prepare data for more cost-effective queries.
Databricks is buying Tabular, a small startup that helps companies optimize data they store in the cloud with the Apache Iceberg format. The news comes in the middle of Snowflake's Summit, where the publicly held company made its own Iceberg-related announcement.
Ali Ghodsi, co-founder and CEO of Databricks, speaks at the company's Spark and AI Summit in San Francisco in April 2019.of database replication startup Arcion and artificial intelligence efficiency startup MosaicML for $100 million and $1.3 billion, respectively. In September, Databricks said it had raised new funding at aThe costs of running queries before exploring and making charts with data can add up. Developers built an open-source format called Apache Iceberg that stores data in tables a variety of tools can then work with. Tabular co-founders Ryan Blue and Dan Weeks came up with Iceberg while atissued fresh warnings to investors about economic turbulence. Databricks is behaving differently. It's growing faster and using its capital to take share. Databricksin March that it generated $1.6 billion in revenue in the year that ended on Jan. 31, up more than 50%. Snowflake executives have said some large clients want to move data out of the company's native storage layer and into Iceberg tables that live in a separate place, such as object storage in the Amazon Web Services cloud. That might result in lower storage revenue for Snowflake. But as organizations become comfortable with running queries on Iceberg tables, that could spur revenue growth from computing workloads running on a large quantity of data stored elsewhere. "Net-net, we think it's going to be a positive," Mike Scarpelli, Snowflake's finance chief, said at a Morgan Stanley event in March. At its Summit conference in San Francisco on Monday, Snowflakethat within 90 days it would release open-source catalog software for finding Iceberg tables. Tabular was among the exhibiting partners at the conference. Databricks has promoted its own open-source initiative called Delta Lake. Focusing more on Iceberg tables might allow Databricks to take business from Snowflake clients that embrace the format. Tabular was established in 2021 and has raised over $30 million in funding, including from Altimeter Capital, Andreessen Horowitz and Zetta Venture Partners.
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