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MongoDB in Advanced Talks to Acquire Israeli Startup Firebolt for $300 Million
American tech giant MongoDB is reportedly nearing a deal to acquire Israeli data company Firebolt for $250 million to $300 million. Founded in 2018, Firebolt specializes in cloud data warehousing and achieved unicorn status in 2022 with a $1.4 billion valuation.
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What happened
- 01MongoDB is in advanced talks to acquire Israeli data company Firebolt for $250-$300 million.
- 02Firebolt, founded in 2018, specializes in cloud data warehousing solutions.
- 03The company achieved unicorn status in early 2022 with a $1.4 billion valuation.
- 04The acquisition price represents a significant drop from its peak valuation.
- 05The deal highlights current financial realities for tech startups.
- 06Eldad Farkash and Saar Bitner are co-founders of Firebolt.
The potential sale reflects a significant decrease in the company's valuation due to market shifts and competition, representing a capital return for investors but not the expected high profits.
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