2 prime execs at $967 million information administration firm DataStax are leaving amid a reorganization, because it heads for a possible IPO
- Two prime executives at $1 billion information administration startup DataStax are leaving the corporate.
- Steve Rowland, DataStax’s president, and Martin Van Ryswyk, government vp of product administration and engineering at DataStax, will probably be leaving the corporate.
- DataStax is reportedly gearing up for an imminent IPO, which might worth the corporate at as a lot as $1 billion.
- Go to Enterprise Insider’s homepage for extra tales.
Two prime executives are leaving DataStax, a $1 billion information administration startup that’s gearing as much as go public this yr.
Steve Rowland, the corporate’s president, and Martin Van Ryswyk, government vp of product administration and engineering, are each transitioning out of DataStax, the corporate confirmed to Enterprise Insider.
In an announcement, Eric Brown, vp of company advertising and marketing and communications at DataStax, advised Enterprise Insider that CEO Billy Bosworth is assembling a brand new government workforce amid a company reorganization, and that the corporate plans to announce a brand new “product imaginative and prescient and technique” at its DataStax Speed up occasion.
This is Brown’s full assertion:
“We now have reorganized the corporate to maneuver quicker round our hybrid and multi-cloud choices, speed up innovation and supply round our as-a-service merchandise, and ship much more enterprise worth round Apache Cassandra in addition to graph. We’re additionally rallying round a brand new product imaginative and prescient and technique which we’ll launch at DataStax Speed up. Steve Rowland and Martin Van Ryswyk are transitioning out of DataStax as Billy ramps his new government workforce.”
Reuters beforehand reported that DataStax has employed funding banks together with Morgan Stanley and JP Morgan Chase & Co as underwriters for a deliberate IPO that would worth the corporate at as a lot as $1 billion.
Learn extra: VCs say these 19 startups for open-source software program builders will blow up in 2019
In complete, DataStax has raised $190.79 million from traders like Scale Enterprise Companions, Crosslink Capital, and Lightspeed Enterprise Companions. It was valued at $967.29 million in 2014, which was the final time it sought enterprise funding, in accordance with Pitchbook information.
The corporate is constructed round Apache Cassandra, a preferred open-source database administration system that was initially created at Fb.
In April, Google Cloud expanded partnerships with seven open supply firms, together with DataStax, to make their merchandise extra tightly built-in with its platform.
SEE ALSO: Workers at NPM, a startup that gives a vital service for 11 million software program builders, have signed an open letter demanding higher working situations
Be part of the dialog about this story »
NOW WATCH: This video reveals the second Sarah Sanders lied to a room stuffed with reporters about FBI brokers telling her they had been completely happy Trump fired Comey