Databricks Says It Has Surpassed $1 Billion in Annualized Revenue

Databricks Inc. says it has topped $1 billion in annualized revenue, a milestone that comes as the nine-year-old data analytics company looks to acquire other tech startups to drive growth.

Co-founder and Chief Executive Ali Ghodsi said he has no immediate plans for a public market debut or to raise another round of investor funding, adding that the San Francisco-based company has enough cash to see it through a prolonged recession.