Thursday, September 17, 2020

Snowflake IPO: $70B

Snowflake IPO: 5 things to know about the Berkshire-backed company after its record software offering - MarketWatch

Cloud-database specialist to raise nearly $4 billion even before selling stakes to Salesforce and Warren Buffett’s previously IPO-averse Berkshire Hathaway

Snowflake Inc. produced the biggest initial public offering for a U.S. software company in history this week, and that may not even be the most astounding feature of its first share sale.

“They’re bringing an Amazon-like approach to data warehousing,”

Snowflake is taking that approach on cloud platforms that offer their own solutions, however. Google’s BigQuery, for instance, also offers a variable pricing structure, and Amazon’s Redshift is considered to be the biggest player around.

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