saumiktewari

They were #1 most sought in secondary marketplace (Hiive) for May? Is it the AI hype? Any HN users who've used it before?

The germ of an idea for what would become ThoughtSpot came to Singh when he noticed that people's ability to store data was really improving. Companies such as Aster and Hadoop (an open-source collection of software that uses networks of computers to process very large volumes of data) were starting to gain traction in the late-2000s.

On the other hand, how that data was delivered to the end users, who were often business users and not software professionals, was still very manual. One would need analysts and data experts to build dashboards, and “people had to wait weeks to get those answers,” according to Singh.

Traditional subscription model in SaaS is going through a massive upheaval as companies are determined to make every dollar count in the time of uncertainty, but what will replace it?

The demand for Databricks is strong in other secondary marketplaces as well. Its secondary market price has suffered a bit from its 2021 peak of $99 due to multiple reasons, (i) dilution and availability due to multiple large funding rounds and (ii) price correction of its public counterpart Snowflake. Databricks itself cut its valuation by 7% in late 2021, and Blackrock, one of its most famed investors, also cut the value of its Databricks holding from ~$20 Million to ~$17 Million, according to Blackrock’s SEC filings. The shares of Databricks are available in the secondary marketplaces for around ~$52 a piece.

In the secondary markets, the stocks are also in demand, but due to the mix of dilution and increase in supply for the stock, the price has constantly fallen from ~$44 to ~$19 from September 2021 to April 2023.

Brex, after the collapse of SVB is looking to be the next most important financial institution for startups, but the competition is heating up- looking at you Ramp & Mercury.