Snowflake’s Brilliant Stock Debut: Outperformed Twitter in Valuation and Stock Soared 130%

The company has raised US $ 3,400 million with its IPO with the placing on the market of 28 million titles.

Snowflake, the company specialized in “big data” solutions, is launched this Wednesday on the stock market with a starting price of US $ 120 per share, the largest public sale of shares for a software company that is valued at about $ 33.3 billion, more than Twitter.

At the closure stocks rose 130% to US $ 253, although they did exceed the $ 270 mark at some point.

The cloud computing company has grown as the needs to analyze larger amounts of data have, facilitating increasingly sophisticated computing architectures and providing Internet services that with the COVID-19 pandemic have become even more essential.

The company has raised US $ 3,400 million with its IPO with the placing on the market of 28 million titles.

The company, based in San Mateo (California), has brightened the calendar of public stock sales with what is the largest IPO since Uber in May 2019.

Well-known investors, such as venture capital companies Sequoia or Iconiq, and the royalty of Silicon Valley, who invested in the first rounds of financing of the company, will see their return increased with the listing of Snowflake.

The famous Investor Warren Buffett and his investment firm Berkshire Hathaway have joined in the euphoria raised by Snowflake and they have committed to investing US $ 550 million in the purchase of shares with the IPO.

Popular analytics and customer management software Salesforce has also committed to investing about $ 250 million in the publicly traded startup.

The initial price of the stock has been revised several times up from the initial 75 to 85 dollars.

Snowflake’s reception on Wall Street will be key to gauge the optimism of investors, who continue to push the technology sector higher, despite recent setbacks, and who are awaiting IPOs such as those of Airbnb, Palantir or DoorDash


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