The offering could produce a market value … Got a confidential news tip? Cloud company Snowflake shares surged more than 111% in its market debut on the New York Stock Exchange on Wednesday in the largest ever software IPO. Tomorrow's another day, we'll see what it brings.". We want to hear from you. Correction: Snowflake is on track to book $500 million in annualized revenue in 2020. With 49.5 million shares of Snowflake at IPO, Sutter Hill Ventures now sits on a position worth nearly $13 billion at the $258 share price. Based on the IPO price, Berkshire will be paying $484.8 million for those shares. Snowflake is selling shares at $120 in its IPO, initially valuing the company at $33.3 billion. That price range was revised upward from the original expectation of $75… Ahead of its expected IPO (initial public offering) pricing date tomorrow, cloud-based data-warehousing start-up Snowflake boosted its expected pricing range to $100 to $110 per share, up from … The company, which is poised 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 stretches of the year. 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. Snowflake now expects to go public on September 16 at a share price of between $100 and $110. WATCH: Here's what to know about Snowflake. The company raised its price range on Monday to between $100 and $110. Snowflake begins trading in the biggest software IPO ever, Snowflake CEO Frank Slootman on the importance of data during the coronavirus outbreak. While Snowflake’s IPO price range has shot up, the company is no late bloomer. Snowflake ranked No. Snowflake, which sells cloud-computing technology for storing and analyzing data, went public on Sept. 16. Data cloud warehouse company Snowflake has set a price range of between $75 and $85 per share for its upcoming IPO, according to a new regulatory filing.. Cloud database startup Snowflake's stock price hit an all-time high after its first quarterly report. Get this delivered to your inbox, and more info about our products and services. Shares of Snowflake surged 111% to about $253.93 at its market debut on Wednesday, pushing Berkshire’s stake to about $1.55 billion from around $730 million based on the IPO pricing of $120 apiece… He took Data Domain public in 2007 and sold it to EMC in 2009 for $2.4 billion before leading ServiceNow’s IPO — the stock is up a whopping 18.6-fold since its June 2012 IPO. Snowflake announced it is selling 28 million shares at $120 a piece. The company raised more $3 billion based on its opening price, the most ever for a software company. Snowflake’s shares made their debut at $245 a share on their first day of trading, more than double the IPO price. DocuSign, Shopify and Datadog have more than doubled. Got a confidential news tip? The IPO for SNOW stock took place on Sept. 16, and it turned out to be the biggest tech IPO of the year. Snowflake raised its estimated IPO price by around 30% in a new S-1 filing Monday. The company had already raised its anticipated debut price range from a maximum of $85 to a max of $110 in the space of less than a week. Does this stock fit in with my investing strategy, and if so, what allocation should I make it? Here’s Where the Stock Finished Its First Day of Trading. Subscribe to the Crunchbase Daily. DASH, +85.79%, which began trading Wednesday morning, and Snowflake Inc., both of which raised $3.36 billion … Cloud-services company Snowflake said Monday that it boosted the expected price range of its initial public offering to $100 to $110 a share from $75 to $85. Snowflake's outsized IPO will mean huge wins for its founders, investors and not one, but two CEOs. © 2020 CNBC LLC. Sign up for free newsletters and get more CNBC delivered to your inbox. A recent regulatory filing reveals that Snowflake plans to offer 28 million shares in a range of $75 to $85 per share, which would raise more than $2.7 billion for the start-up. "It's like talking about the weather, it is what it is. Get this delivered to your inbox, and more info about our products and services. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. That would top Airbnb’s opening act on the 2020 IPO train, DoorDash Inc. Snowflake expects to price its shares between $75 and $85. Snowflake bumped its IPO price range to $100 to $110 a share from $75 to $85, bringing the amount it’s trying . The cloud database startup is wowing investors with rapid growth. Snowflake stock (ticker: SNOW) has now more than tripled since the IPO and sports a market cap of $110 billion, roughly in line with much larger (and older and slower-growing) IBM (IBM). All Rights Reserved. As a result, Berkshire is … 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. Snowflake counts Adobe, Logitech, DocuSign and Square among its clients. Last week, Snowflake revealed in a filing that Berkshire Hathaway and Salesforce each agreed to buy $250 million of stock at the IPO price in a concurrent private placement. Even after pulling back this month, the BVP Nasdaq Emerging Cloud Index, consisting of over 50 publicly traded companies, is up about 55% this year, compared to a 25% gain for the Nasdaq and 5.3% advance in the S&P 500. Snowflake is selling shares at $120 in its IPO, initially valuing the company at $33.3 billion. The company previously said that its shares would debut at between $75 and $85 a share. ... a stake valued at more than $5.9 billion at Snowflake’s list price of $120. Snowflake Prices IPO at $120 a Share Price values tech company at $33 billion; shares set to begin trading Wednesday Some Snowflake founders and executives, including Chief Executive … Data is a real-time snapshot *Data is delayed at least 15 minutes. "A stock is worth exactly what somebody wants to pay for it," CEO Frank Slootman told CNBC just after the stock began trading. 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. We want to hear from you. Snowflake Financials. A day earlier, Snowflake priced shares at $120, higher than the $100 to $110 range it estimated on Monday, and a huge bump from the $75 to $85 range it proposed last week. Berkshire Hathaway also agreed to buy 4.04 million shares in a secondary transaction. Snowflake is entering a market that's hungry for high-growth cloud software makers, particularly those that have shown an ability to continue expanding through the coronavirus pandemic. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Snowflake began trading Wednesday on the New York Stock Exchange. The company raised its price range on Monday to between $100 and $110. Snowflake is a cloud-data storage firm that debuted to the public in a September IPO, pricing its shares at $120. An SEC filing updated on Monday shows the company raised its valuation to between $27.7 billion and $30.5 billion … The stock trades under the symbol SNOW. Snowflake, a provider of cloud-based data storage and analysis software, priced its IPO above its increased range in an offering that values the company at $33.3 billion. Snowflake is poised to be … It has also agreed to purchase 4 million shares from former Snowflake CEO Robert Muglia at the IPO price. The IPO had … SNOW, The software company'sstock is indicated to open on the NYSE at around $215 to $220, according to FactSet data, which is 79.2% to 83.3% above the $120 IPO price. The Snowflake IPO raised $3.4 billion and set a record as the largest U.S. software IPO … The stock began trading at $245 per share and closed at $253.93. If Snowflake prices … Snowflake priced its initial public offering Tuesday night at $120 a share — well above the expected range of $100 to $110. Investors are bidding up Snowflake's ahead of the offering as they anticipate a blockbuster opening for a company that's generating over $500 million in annualized revenue and grew over 130% in the first half of the year. 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. Zoom's stock is up over 500% in 2020, and Fastly has jumped more than 300%. Snowflake has strong financials for a tech IPO, yet it’s important to remember … A Division of NBCUniversal. Snowflake was worth $70.4 billion at the end of trading, more than five times its $12.4 billion valuation in February. Data is a real-time snapshot *Data is delayed at least 15 minutes. Sign up for free newsletters and get more CNBC delivered to your inbox. The cloud software company was worth $67.94 billion at its opening price, more than five times its $12.4 billion valuation in February. 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. Snowflake Priced Its IPO at $120. Snowflake is poised to be the biggest IPO in a heavy week for tech offerings. A day earlier, Snowflake priced shares at $120, higher than the $100 to $110 range it estimated on Monday, and a huge bump from the $75 to $85 range it proposed last week. For … Stock began trading at $245 per share, before being briefly halted due to volatility. All Rights Reserved. —CNBC's Jordan Novet and Ari Levy contributed to this report. A Division of NBCUniversal. Snowflake will raise approximately $3.4 billion from the offering. Berkshire Hathaway also agreed to buy 4.04 million shares in a secondary transaction from former CEO Bob Muglia. to raise to as much as $3.08 billion. Snowflake … 40 on the 2020 CNBC Disruptor 50 list. © 2020 CNBC LLC. The company now expects to go public at a share price between $100 and $110, according to the filing. Snowflake set to price as the highest valued software IPO—Here's what to know about the company. 4.04 million shares in a new S-1 filing Monday IPO, pricing its shares between $ 75 and 110! The offering share price between $ 75 and $ 110 software IPO—Here what... And Analysis poised to be the biggest IPO in a snowflake ipo price S-1 Monday! Should I make it 's another Day, we 'll see what it brings... 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