Snowflake is about to go public. It's the biggest software IPO ever

Green light illuminates server cables in the 5G lab at the Vodafone Kabel Deutschland GmbH campus in Duesseldorf Germany on Tuesday Jan. 21 2020. The European Union won’t explicitly ban Huawei Technologies Co. or other 5G equipment vendors when the

Green light illuminates server cables in the 5G lab at the Vodafone Kabel Deutschland GmbH campus in Duesseldorf Germany on Tuesday Jan. 21 2020. The European Union won’t explicitly ban Huawei Technologies Co. or other 5G equipment vendors when the

Snowflake Computing Inc. jumped into the public market Wednesday with an initial public offering, watching shares more than double in value, to $245 a share, in their initial trading on the New York Stock Exchange.

"As with any IPO it's always a good idea to understand why the company is coming to market as well as who its backers are". IPO seeks to replicate the price and yield performance of the Renaissance IPO Index, which is a portfolio of companies that have recently completed an initial public offering ("IPO") and are listed on a US exchange. That said, the company is now unprofitable: after losing $178M in 2018, the company saw a losses grow to almost $350M previous year.

American-Israeli technology provider JFrog soared 62% in its Nasdaq debut on Wednesday, after its upsized IPO raised $509 million.

Unity Software Inc on Thursday sold shares in its NY initial public offering (IPO) above its target range to raise $1.3 billion, the company said.

Interestingly enough, it appears that Warren Buffett has invested plenty of money into Snowflake as well.

Shares of Snowflake surged 111% to about $253.93 U.S.in its market debut, pushing Berkshire Hathaway's stake to $1.55 billion US from around $730 million USA based on the IPO pricing of $120 USA per share.

Revenue more than doubled in the past six months, to $242 million.

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Two mega deals last week involved Snowflake stock purchases by Salesforce and Berkshire Hathaway, each exceeding $250 million.

"Snowflake has actually been actually looking for more detailed connections along with Salesforce due to the fact that a lot of of its own consumers additionally maintain records there certainly as well as intend to have the capacity to assess it in Snowflake ' s applications much more conveniently". This is a rare move for Berkshire Hathaway, which makes this IPO even more unique and exciting to watch.

"We live in a world where everybody's trying to digitize", he said. More recently the company has broadened its potential market by defining itself as a cloud data platform company.

The cloud industry has been on an hot trajectory garnering increasing enthusiasm.

"Beginning with our first customers in 2014, the response was beyond our expectations as we addressed major shortcomings of existing solutions and expanded from a data warehouse into an integrated cloud data platform", the start-up said in a regulatory filing. Though this pricey IPO will be fun to watch, with its targeted offer price, it's not a realistic play for everyday investors.

Snowflake joins a flood of companies racing to the public markets this year. It's going to be an interesting next few months, and you don't want to miss out.

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