- Advertisement -
Home Business Snowflake in front of a record-breaking IPO - economy

Snowflake in front of a record-breaking IPO – economy

US-based technology company Snowflake is gone on Wednesday to the New York stock exchange. With expected Revenues of about 3.36 billion dollars of the Cloud providers managed the largest US IPO of the year. Overall, the former Start-up is rated up with more than 33 billion dollars. Of course, for the time of the IPO, the price is 120 dollars. Had at the beginning of the week Snowflake announced its intention to issue approximately 28 million shares at a price of 100 to 110 dollars per paper.

Snowflake has companies, especially as customers who need to process large amounts of data in a short period of time. The Software of the 2012 founded company offers in a subscription model and tools for analysis, storage and management of data. So companies themselves have to no large Server capacities, but are able to process your information on the Cloud service of Snowflake. It can go both their own data as well as “borrowed” packets of data that have to be purchased from a third party. Customers include the US Bank holding company Capital One and the Software giant Adobe.

The market for these Cloud Services is highly competitive, has in the Corona-crisis, however, a particularly strong growth. The market leader Oracle reported for the second quarter, a turnover of nearly seven billion dollars in this Segment and expect further growth up to the end of the year. Also, the US Tech giants Amazon, Google and Microsoft compete in the Cloud market to the data of the customers. The more attention the Snowflake-IPO now. Founded eight years ago by two French and a Dutch developer, writes the company from the California San Mateo is still a loss. 171 millions of dollars were missing at the end of the first half of the year 2020. The sales of the past twelve months, amounted to about $ 400 million. Meanwhile, about 2000 people work in Snowflake.

Because of the good growth prospects, analysts hold the a much higher rating however, for realistic. Within a very short time, this has nearly tripled. In February, as a Snowflake collected almost half a billion dollars from investors, the estimated value of the company at 12.4 billion dollars. “The shift of all the data in the Cloud is the biggest Trend there has been in the Computer age”, says Snowflake-CEO Frank Slootman. In addition, Investments by the Star Investor, Warren Buffett, and Salesforce could attract reasons Marc Benioff interested parties. Both of them wanted to buy at the IPO price of shares for more than $ 250 million.

Jerry Rolon
Jerry Rolonhttps://etrendystock.com/
After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

Must Read

Fund contributions as a nasty Surprise for retirees – economic

Many retirees have private or on the company provisions are, or to make some extra money. If the insurance company asks for a percentage,...

Euro today in Brazil: contribution of the brazilian real to the euro, September 27. EUR BRL

After the opening of the session the euro it pays at 06:28 hours 6,47 brazilian real, which represents a slight change -0,04% compared...

Related News

Fund contributions as a nasty Surprise for retirees – economic

Many retirees have private or on the company provisions are, or to make some extra money. If the insurance company asks for a percentage,...

Euro today in Brazil: contribution of the brazilian real to the euro, September 27. EUR BRL

After the opening of the session the euro it pays at 06:28 hours 6,47 brazilian real, which represents a slight change -0,04% compared...