In what could be the most really valued original public providing of the yr, knowledge warehouse startup Snowflake is looking for to raise up to $two.seven billion, with more shares getting sold privately to Salesforce and Warren Buffett’s Berkshire Hathaway.
In accordance to a revised prospectus, Snowflake will sell 32.two million Class A shares to the public at a price among $75 and $85 for each share. The price goal values the corporation at among $twenty.9 billion and $23.seven billion — an increase, at the substantial place, of additional than $11 billion due to the fact a funding spherical in February, when Snowflake was valued at $12.four billion.
Snowflake’s program makes it possible for firms to shop and manage knowledge in the cloud rather than on legacy databases, creating it less difficult for clients to speedily accessibility and examine critical facts throughout the business.
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