![]() ![]() It's the first of several technology companies to go public this week in one of the busiest stretches of the year, despite the ongoing Covid-19 pandemic. ![]() Customers use the Data Cloud to unite siloed data, discover and securely share data, and execute diverse analytic workloads. Revenue: 1 to 5 billion (USD) Snowflake enables every organization to mobilize their data with Snowflake’s Data Cloud. The Snowflake Ecosystem Will Converge at the World’s Largest Data, Apps, and AI Event, Snowflake Summit 2023. MSFT, +1. Type: Company - Public (SNOW) Industry: Enterprise Software & Network Solutions. Snowflake is growing alongside the major public cloud vendors by providing technology that allows clients to quickly analyze and share vast amounts of data and increase capacity as needed, rather than relying on databases that are tied to hardware. 1 day ago &0183 &32 Earlier in the day, Snowflake revealed a partnership with Microsoft Corp. The stock received a vote of confidence last week, when Snowflake revealed in a filing that Warren Buffett's Berkshire Hathaway and Salesforce each agreed to buy $250 million of stock at the IPO price in a concurrent private placement. Berkshire Hathaway also agreed to buy 4.04 million shares in a secondary transaction. Snowflakes core product is a unified cloud data platform that enables customers to easily. It spent another 485 million to buy 4 million shares at the IPO price of 120 from former Snowflake CEO Robert Muglia in a secondary transaction. They created the Data Cloud a global network where thousands of organizations mobilize data with near-unlimited scale, concurrency, and performance. Investors had anticipated a blockbuster opening for the company, which is generating over $500 million in annualized revenue and grew over 130% in the first half of 2020. technology firm offering cloud data services. The billionaire investor’s company shelled out 250 million for about 2.1 million shares in a private placement immediately after Snowflake’s IPO. Corporate Overview Snowflake’s founders started from scratch and built a solution that would harness the immense power available in the public cloud. The company raised more $3 billion based on its opening price, the most ever for a software company. Tomorrow's another day, we'll see what it brings." "It's like talking about the weather, it is what it is. "A stock is worth exactly what somebody wants to pay for it," CEO Frank Slootman told CNBC just after the stock began trading. Snowflake was worth $70.4 billion at the end of trading, more than five times its $12.4 billion valuation in February. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower At its peak market capitalization of about 110 billion, the company was valued at a staggering 186. ![]() Best Debt Consolidation Loans for Bad Credit Snowflake generated about 590 million of revenue in the fiscal year that ended in January. ![]()
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