When is the Databricks IPO?

Not in 2026 — CEO Ali Ghodsi said so directly, and the base case among observers is a 2027 listing. No banking mandates have been publicly confirmed. Until then, the company's tender offers are the liquidity program for employees.

What is Databricks' valuation?

The last completed round — a $4 billion Series L in December 2025 — valued Databricks at approximately $134 billion. As of mid-2026, the company was reported to be discussing a new raise at a $165–175 billion valuation. IPO pricing, whenever it comes, will set the first market-tested number.

Do Databricks employees owe tax before the IPO?

Many already did. Databricks removed its RSU second trigger in 2025, so vested RSUs settled into shares while the company was still private — creating ordinary-income tax on the settlement value before any guaranteed liquidity. Holders now own shares whose capital-gains holding clocks are already running.

Can I buy Databricks stock before the IPO?

There's no public market. Accredited investors sometimes buy through private secondaries, subject to transfer restrictions and company approval. For most investors, the listing — base case 2027 — is the first real opportunity. Treat any pre-IPO 'Databricks shares' pitch on social media as a red flag.

What should Databricks holders do while the IPO waits?

Confirm your settlement basis records, track when each lot crosses the one-year long-term threshold, size participation in tender windows against a written concentration target, and — for pre-2016 ISO holders — evaluate QSBS eligibility, which OBBBA expanded to a $15M exclusion. The delay is planning time.

The Databricks IPO moved to 2027. The tax bill didn't wait.

CEO Ali Ghodsi has said Databricks won't list in 2026; the base case is 2027. Meanwhile many holders have already had their taxable event — the 2025 second-trigger removal settled vested RSUs into shares while the company was private.¹ Here's the event timeline, and the playbook for the in-between year.

Hold Databricks shares or RSUs? The settlement squeeze, tender sizing, and QSBS angles are covered in the Databricks equity guide and the tender-offer page — or get matched with a specialist.

What's publicly reported

No 2026 IPO. Ghodsi stated it directly in 2026; observers' base case is a 2027 listing, and no banking mandates have been publicly confirmed.¹
$134B Series L, December 2025. A $4 billion raise — the last completed round.¹
New raise reportedly discussed at $165–175B as of June 2026.¹
Second trigger removed in 2025. Vested RSUs settled into shares while private — ordinary income at settlement, before guaranteed liquidity.²
March 2026 tender. The most recent liquidity window; the tender program is the near-term liquidity mechanism.²
Programs change — verify your documents. Grant-year terms differ; official offer materials and your equity portal control.

Educational only; not affiliated with, sponsored by, or endorsed by Databricks.

Why the delay changes the plan (mostly for the better)

Long-term clocks mature. Shares from 2025 settlements cross the one-year long-term threshold on a rolling basis — by a 2027 listing, most settled lots qualify for long-term rates on post-settlement gains (federal 15–20% + 3.8% NIIT vs ordinary rates up to 37%).³ Selling decisions get cheaper with time; track each lot's date.
Tenders become the bridge. With no listing until 2027, tender windows are the realistic liquidity. Size them against a written concentration target — the framework is on the tender page.
Estimated taxes stay manual. Tender sales carry no automatic withholding on gains; the quarter's estimated payment is on you.
QSBS work has a deadline that isn't the IPO. Pre-2016 ISO holders may hold qualified small business stock; OBBBA raised the § 1202 exclusion to $15M with tiered 3/4/5-year holding. Eligibility analysis is document work — do it before, not during, a liquidity window.⁴

For investors watching the 2027 window

There's no ticker and no public market. Private secondary access exists for accredited investors, with the usual approval requirements and thin information. We don't sell or arrange investments. When the IPO comes, the S-1's audited financials and lockup terms will be the documents that matter — the reported $165–175B talks are a mark, not a price.

A 2027 IPO means 2026 is the planning year.

Get matched with a fee-only fiduciary who works equity events — settlement basis cleanup, tender sizing, QSBS eligibility, estimated taxes. Free, no obligation.

Sources

Allied Venture Partners — Databricks IPO: expectations, key dates, valuation — timing statements, Series L, and reported raise discussions.
Rora Wealth — Navigating Databricks' tender offer and KB Financial Advisors — Databricks tender offer 2026 — second-trigger removal and tender mechanics.
IRS Rev. Proc. 2025-32 — 2026 brackets and long-term capital gains thresholds; restricted-property taxation per IRC § 83.
IRC § 1202 — Qualified small business stock — QSBS exclusion, as amended by OBBBA (July 2025): $15M exclusion with tiered 3/4/5-year holding.

Company facts reflect public reporting as of August 17, 2026. Tax figures verified against IRS Rev. Proc. 2025-32 and OBBBA provisions for tax year 2026. Verify program terms against official company materials.