Connect with us

Business

Snowflake prices an IPO above the range, implying a market cap of $ 33.3 billion

Published

on


Frank Slootman, CEO of Snowflake

Snowflake

Snowflake, a provider of cloud-based data storage and analytics software, valued its IPO above its increased range in a bid that values ​​the company at $ 33.3 billion.

Snowflake is selling 28 million shares for $ 120 a piece, according to a person familiar with the matter who asked not to be named because the price was not made public. The company, which is set to debut on the New York Stock Exchange on Wednesday under the ticker symbol “SNOW,” is the first of several technology companies to go public this week in one of the busiest times of the year. ‘year. $ 3.4 billion in supply.

Investors bid for Snowflake ahead of the offer because they anticipate a successful opening for a company that generates over $ 1 billion in annualized revenue and grown up more than 130% in the first semester. The company had already increased its expected initial price range from a high of $ 85 to a high of $ 110 in less than a week. Snowflake is growing alongside leading public cloud providers by providing technology that allows customers to quickly analyze and share large amounts of data and increase capacity as needed, rather than relying on databases. hardware-related data.

Last week, Snowflake revealed in a filing that Berkshire Hathaway and Salesforce have each agreed to buy $ 250 million of shares at the IPO price as part of a concurrent private placement. Berkshire Hathaway has also agreed to to buy 4.04 million shares in a side deal from former CEO Bob Muglia. Based on the IPO price, Berkshire will pay $ 484.8 million for these shares.

Snowflake is entering a hungry market of high growth cloud software manufacturers, especially those who have shown their ability to continue to grow during the coronavirus pandemic. Even after declining this month, the BVP Nasdaq Emerging Cloud Index, made up of more than 50 publicly traded companies, is up about 55% this year, compared to a gain of 25% for the Nasdaq and 5 , 3% for the S&P 500.

Zoom’s stock rose over 500% in 2020 and Fastly jumped over 300%. DocuSign, Shopify and Datadog more than doubled.

WATCH: Here’s what you need to know about Snowflake

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos



picture credit

ExBUlletin

to request, modification Contact us at Here or [email protected]

Please disable the ad-blocker on this page to see the content

plus