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2 top execs at $967 million data management company DataStax are leaving amid a reorganization, as it heads for a potential IPO

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2 top execs at $967 million billion data management company DataStax are leaving amid a reorganization, as it heads for a potential IPO

Steve Rowland, the company's president, and Martin Van Ryswyk, executive vice president of product management and engineering, are both transitioning out of DataStax, the company confirmed to Business Insider.

In a statement, Eric Brown, vice president of corporate marketing and communications at DataStax, told Business Insider that CEO Billy Bosworth is assembling a new executive team amid a corporate reorganization, and that the company plans to announce a new"product vision and strategy" at its DataStax Accelerate event.

that DataStax has hired investment banks including Morgan Stanley and JP Morgan Chase & Co as underwriters for a planned IPO that could value the company at as much as $1 billion.In total, DataStax has raised $190.79 million from investors like Scale Venture Partners, Crosslink Capital, and Lightspeed Venture Partners. It was valued at $967.29 million in 2014, which was the last time it sought venture funding, according to Pitchbook data.

The company is built around Apache Cassandra, a popular open-source database management system that was originally created at Facebook.with seven open source companies, including DataStax, to make their products more tightly integrated with its platform.simply click here to claim your deal and get access to all exclusive Business Insider PRIME content.

 

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