Summary List Placement
Snowflake and Databricks, two brawny young companies with very different approaches, are quickly defining the booming industry of big data – and analysts say they are “on a collision course” that could see them establish what might just be the next great rivalry in tech.
Snowflake helps companies move their data into structured virtual warehouses, where they can run granular business analytics on it. Led by brash CEO Frank Slootman, Snowflake barreled to a software industry record $33 billion initial public offering in September. Its stock has been on a roller coaster ride of ups and downs – recently, mostly downs – ever since.
Databricks takes a different approach – both with data and business strategy. The $28 billion startup helps companies analyze their raw data wherever it is, and helps customers use their data in AI algorithms. CEO Ali Ghodsi has methodically built a war chest of $1.9 billion of venture capital on a patient IPO route.
Here’s where things get really interesting. Snowflake is moving into the AI space as it seeks to help customers better use their data. Databricks is adding more business analytics features. So two young companies that have grown without obstacles are …read more
Source:: Businessinsider – Tech