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UiPath and Databricks set the stage for direct listings with huge funding rounds



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Ali Ghodsi, co-founder and CEO of Databricks, speaks at the company’s Spark and AI Summit in San Francisco in April 2019.DatabricksUiPath and Databricks became two of the most valuable privately held tech companies in the U.S. on Monday, with massive new funding rounds that give them a combined valuation of more than $60 billion. The cash haul gives them the option to take a non-traditional — but increasingly popular — route to the public markets.UiPath, which makes software for automating office work, raised $750 million at a $35 billion valuation on Monday. Databricks, whose software helps companies process large amounts of data in …

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