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HomeBusinessHuge IPO offering-Snowflake Coming this Wednesday

Huge IPO offering-Snowflake Coming this Wednesday

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Stock Exchange, Trading Floor, New York, Manhattan

Snowflake increased its IPO offering $200 to $110 a share up from 75 to $85 a share. Snowflake will trade on the New York Stock Exchange under the ticker symbol SNOW.

Developer of a SaaS-based cloud data warehousing platform designed to store, transform, and analyze business data safely and efficiently. The company’s platform includes data infrastructure for the cloud, with a focus on big data, security and storage for bringing together all users, all data and all workloads in a single cloud service, enabling businesses to access data from any location. Source: Pitchdeck

The cloud-based technology company  Snowflake offers more flexibility in their product line , giving it a competitive edge with more advanced technology    then amazons data warehouse program called Redshift from Amazon Web Services. This one reason the company has surged in its growth.  Snowflake has been disruptive with i’s  new technology, where Amazon’s web service software is the oldest of its kind.

State of California Covid-19 data is now available to public via Snowflake data marketplace. You can view the information at COVID.CA.Covid.gov

Revenue grew nearly 175% in the fiscal year that ended at the end of January, to $264.7 million from $96.7 million. In the first six months of this fiscal year, ending July 31, sales again more than doubled easily, moving to $242 million from $104 million states MarketWatch.

Sutter Hill Ventures will have more than 17% of the class B shares after the offering including a    seat on the board held by  Sutter Hill managing director. Michael Speiser

Snowflake Investors

Dragoneer Investment Group         Growth/Expansion                   Minority

Salesforce Ventures             Corporate Venture Capital                     Minority

ArdenPoint Ecommerce Venture Capital Minority

Human Capital (San Francisco)     Venture Capital Minority

Meritech Capital Partners                       Venture Capital Minority

Source: Pitchdeck

Frank Slootman

Chairman and Chief Executive Officer Frank Slootman currently serves as Chairman and CEO at Snowflake. Frank has over 25 years of experience as an entrepreneur and executive in the enterprise software industry. Mr. Slootman served as CEO and President of ServiceNow from 2011 to 2017, taking the organization from around $100M in revenue, through an IPO, to $1.4B.Source Snowflake

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