PrivatePulse·Companies·Databricks vs Fanatics

Databricks vs Fanatics: employee equity compared

Secondary market prices, valuation trajectory, equity structure, and liquidity outlook for employees choosing between Databricks and Fanatics.

Secondary signals manually reviewed · Sources: Hiive, Forge · Not tradable prices

Databricks

Data/Cloud · San Francisco, CA · Founded 2013

Data & AI platform — Delta Lake, MLflow, Unity Catalog, plus the Mosaic foundation-model stack.

Last primary round$134B · Series L (2026-02)
Secondary marketNo recent verified signal
Annual revenue$5.4B ARR · +65% YoY (fast)
Headcount~8,000
Equity typeISO/NSO
Strike price range$85–$110 (depends on cohort)
Illiquidity discount~10%
Last round leadGoldman Sachs / Morgan Stanley
Liquidity outlook

IPO highly anticipated, likely 2026–2027 given massive scale. One of the most closely watched pre-IPO names in tech.

Key equity angle

Sticky enterprise ARR; ISO/NSO options; IPO imminent when ARR > $1B

Data quality
Secondary: No verified signal — last primary only
Revenue: Disclosed
Full Databricks profileCalculate my equity

Fanatics

Consumer · United States · Founded 1995

Vertically integrated sports platform encompassing licensed merchandise, trading cards (Topps acquisition), and sports betting (Fanatics Sportsbook).

Last primary round$31B · Series I (2022-12)
Secondary marketNo recent verified signal
Annual revenue$7.3B ARR · +15% YoY
Headcount~10,000
Equity typeRSU
Illiquidity discount~22%
Last round leadSoftbank / BlackRock
Liquidity outlook

IPO possible 2026–2028 as scale builds. No confirmed timeline; tender offers may provide interim liquidity.

Key equity angle

Consumer brand with network effects; RSU (no exercise cost); IPO when unit economics proven

Data quality
Secondary: No verified signal — last primary only
Revenue: Disclosed
Full Fanatics profileCalculate my equity

Key differences for employees

Equity structure

Databricks grants ISO/NSO with strike prices ranging from $85–$110 depending on your grant year. Fanatics grants RSU — no exercise cost.

Secondary market signal

Databricks has no recent verified secondary signal — only the primary round ($134B) is shown. Fanatics has no recent verified secondary signal. A higher secondary premium typically signals stronger investor demand and potentially better near-term liquidity for employees looking to sell.

Revenue and growth

Databricks runs at $5.4B ARR, growing +65% YoY (fast). Fanatics runs at $7.3B ARR, growing +15% YoY. Revenue growth rate matters for equity because it drives the peer-multiple valuation — the method most correlated with exit multiples.

Liquidity timeline

Databricks: IPO highly anticipated, likely 2026–2027 given massive scale. One of the most closely watched pre-IPO names in tech.

Fanatics: IPO possible 2026–2028 as scale builds. No confirmed timeline; tender offers may provide interim liquidity.

Calculate your specific grant

Enter your actual shares, equity type, and strike price. PrivatePulse calculates your personal equity value using peer-multiple, secondary-market, time-decay, and sector-momentum methods.

Calculate at Databricks →Calculate at Fanatics →

Frequently asked questions

Is Databricks or Fanatics a better company to work at for equity?↓
There's no universal answer — it depends on your risk profile, time horizon, and specific grant terms. Databricks at $134B and Fanatics at $31B offer very different risk/reward profiles. Use the calculator above to model your exact grant at each company.
How do I know if my Databricks or Fanatics equity is fairly priced?↓
Compare your grant's implied per-share value against the secondary market price. If investors are paying a premium on Hiive or Forge over the last primary round, that's a signal of strong demand. PrivatePulse shows you the gap between your 409A and what the secondary market says.
Can I sell my Databricks or Fanatics shares on the secondary market?↓
Secondary market transactions (Hiive, Forge, Caplight) require accredited investor status and your company's consent — most private companies have right-of-first-refusal (ROFR) provisions. Tender offers, when available, are typically the most accessible path to partial liquidity for employees.

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