Databricks Preps Employee Share Sale

Databricks, one of the most valuable of the private tech companies, told employees last week it is planning to allow early staffers to cash out some of their shares in the coming months by lining up investors to buy their stock, people familiar with the matter said.

In arranging the share sale, Databricks is following in the footsteps of other private tech companies that have run large tender offerings in recent months to allow employees to sell shares, including design software firm Canva, payments giant Stripe and Elon Musk’s rocket company, SpaceX. In doing so, these companies put off the need to go public anytime soon.