Shares Snowflake Inc.
enjoyed a red-hot start to their public life Wednesday, as the first trade was 104.2% above its initial public offering price. The California-based software company, which is backed by Warren Buffett's Berkshire Hathaway Inc. BRK.B, +0.69% and Salesforce.com Inc. CRM, +0.75%, raised $3.36 billion in the IPO and was valued at roughly $33 billion. The first trade was at $245 at 12:38 p.m. Eastern for 3.5 million shares, compared with the $120 IPO price.
Might cool off before it heats back up again. Buffett committed $570 million to this stock, $250 million IPO price and $320 million in the aftermarket.
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Cloud Standout Snowflake Prices Above Range: Big Winners In The Mega IPOCloud database company Snowflake priced its hotly-anticipated public offering tonight, setting the stage for an outsized, much-scrutinized first day of trading the following day by alexrkonrad alexrkonrad
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Buffett-backed cloud unicorn Snowflake nets $3.4 billion in record-breaking software IPO | Markets InsiderBillionaire investor-backed Snowflake said it would raise $3.4 billion in the largest-ever software IPO, giving it a value of over $33 billion.... WeCantFUkingBREATHE Really stupid. Considering Amazon, Dropbox and so many damn other players have been doing it better and longer.
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