Berkshire Hathaway is investing $ 570 million in technology startup of the Snowflake

News

Berkshire Hathaway is investing $ 570 million in technology startup of the Snowflake

14.09.2020 News

Warren Buffett’s US company – Berkshire Hathaway intends to invest more than $ 570 million in Snowflake, a cloud technology company.

It was reported after Snowflake announced a price range for its future initial public offering. The company wants to get the estimate of $ 23.7 billion, writes the Financial Times.

Snowflake said that during the listing Berkshire Hathaway and Marc Benioff’s Salesforce Ventures will directly buy of $ 250 million worth of shares from Snowflake. Furthermore, Buffett’s company will buy another block of shared worth more than $ 320 million from one of the investors of Snowflake.

Buffett has long been known for avoiding of investing in the technology sector due to considering its vulnerability to sudden jumps in the stock market. In 2011, he still made a big bet on IBM company, which was later overtaken by competitors in the field of cloud technology. Its shares are about 30% cheaper than at the time when Berkshire Hathaway invested in it. Later Buffett sold shares of IBM and instead invested in Apple.

Snowflake expects that its shares will be able to sell in the IPO from $ 75 to $ 85 per share. The company plans to raise $ 3.24 billion.

Other articles

  • JD.com will be the first platform to accept China’s cryptocurrency
    News

    JD.com will be the first platform to accept China’s cryptocurrency

    Chinese e-commerce company JD.com Inc announced on Saturday that it will be the first platform in the country to accept China’s digital currency. The Central Bank of China will hold its second digital yuan lottery among citizens of Suzhou, near Shanghai on Friday. The total amount of playable digital yuan is 20 million ($ 3.06 […]

  • Airbnb will try to get an estimate of $ 35 billion for an IPO
    News

    Airbnb will try to get an estimate of $ 35 billion for an IPO

    According to Bloomberg, citing documents submitted to the Securities and Exchange Commission (SEC), the short-term rental service Airbnb plans to raise $ 2.6 billion in listing in the US and receive an estimate of $ 35 billion. If the company manages to raise $ 2.6 billion, Airbnb’s placement will be the fourth largest IPO in […]

  • Investment in industrial solar power plants fell significantly in 2020
    News

    Investment in industrial solar power plants fell significantly in 2020

    Company representatives, who engaged in the design, construction and equipment for solar power plants, note a significant decline in demand for their services. This is due to instability of the industry and growing debts for “green” electricity. “We are talking about 1260 MW of RES generation that has been launched in the first three quarters […]

  • IBM makes two cloud acquisitions a week: TruQua and Instana
    News

    IBM makes two cloud acquisitions a week: TruQua and Instana

    This week, IBM announced two acquisitions in the field of cloud computing: financial and analytical IT company TruQua Enterprises and software company Instana. The financial terms of the two agreements were not disclosed. On Monday, IBM announced the acquisition of TruQua, which provides SAP solutions to Fortune 500 companies. SAP is one of the world’s […]

  • Airbnb intends to raise $ 1 billion from the initial public offering
    News

    Airbnb intends to raise $ 1 billion from the initial public offering

    The American company Airbnb, which is the operator of the rental service of the same name, expects to raise $ 1 billion through an initial public offering (IPO). This is stated in a statement posted on Monday on the website of the Federal Securities and Exchange Commission. The company clarifies that its plans are “preliminary […]

  • Saudi Aramco is preparing to place up to five tranches of dollar Eurobonds
    News

    Saudi Aramco is preparing to place up to five tranches of dollar Eurobonds

    The state corporation Saudi Aramco is preparing to place dollar Eurobonds, a source in banking circles said. According to him, the company is considering the possibility of placing up to five tranches of Eurobonds: with a maturity of three years, five years, ten years, as well as thirty and / or fifty years. Starting on […]

  • Volkswagen is to invest $ 75 billion in “technology of the future”
    News

    Volkswagen is to invest $ 75 billion in “technology of the future”

    German automaker Volkswagen will invest about 73 billion euros over the next five years in electrification, hybrid powertrains and digital technology, the company said in a statement following a meeting of the supervisory board. In particular, about 35 billion euros are planned to be spent on electric cars on battery power, about 11 billion – […]

  • Alibaba’s financial report exceeded expectations, with a record 60% growth in the cloud computing business
    News

    Alibaba’s financial report exceeded expectations, with a record 60% growth in the cloud computing business

    Shares of Alibaba, up 35.7% since the beginning of the year but down almost 8% this week, rose 5.3% during trading on Friday after China’s largest public company announced second-quarter results financial year 2021, which ended in September. Alibaba’s quarterly report was preceded by news of the termination of the IPO of financial technology company […]

Read also

Berkshire Hathaway is investing $ 570 million in technology startup of the Snowflake
News

Alibaba Group offers for the purchase of Chinese Intime Retail $ 2,6 billion

The international business publication The Financial Times published the news that the public company Alibaba Group of China, experienced e-commerce giant, plans to become the owner of an investment holding company Intime Retail, bought its controlling stake at a price of more than two and a half billion dollars. Intime Retail owns 29 shops and […]

Next
Berkshire Hathaway is investing $ 570 million in technology startup of the Snowflake
News

“Klub Syra” enters the EU market

The “Klub syra” Company is considering the possibility of cheese deliveries to Romania and Bulgaria and deliveries  of dry fat-free to  Romania, Bulgaria and Poland. This was announced by the CEO of the company Maxim Rylik, writes “Ukrainian News”. “As for the European Union, today  we are considering the issue of the exports in direction […]

Next
Berkshire Hathaway is investing $ 570 million in technology startup of the Snowflake
News

State Fiscal Service of Ukraine blocks the plant work

According to Interfax-Ukraine, State fiscal service members have blocked work of Delta Wilmar CIS entity in Odessa region.Representatives of tax police have blocked entrances on Delta Wilmar CIS LLC which is one of the largest producers of fat-and-oil products in Ukraine. Aleksandr Podprugin, the deputy director of Delta Wilmar CIS LLC, confirmed that tax specialists […]

Next
Berkshire Hathaway is investing $ 570 million in technology startup of the Snowflake
News

Mriya has provided a social assistance to local communities in the amount of 22 mln. UAH

Agricultural company Mriya  paid 192.4 million UAH of tax deductions and provided assistance to local communities  of  22 million UAH. Since the affiliation under the control of creditors in February 2015, “Mriya” Agro Holding paid 192.4 million UAH of tax payments to budgets of all levels. In addition, last year the company provided social assistance […]

Next
Berkshire Hathaway is investing $ 570 million in technology startup of the Snowflake
News

Ukraine’s gas storage facilities are half-full

Gas reserves in Ukraine decreased to 15.47 billion cubic meters, which is 50% of underground storage capacity. This is evidenced by the data of the GTS Operator of Ukraine. As of April 17, gas reserves were 4% lower than a year earlier. It will be recalled that Ukraine has started the heating season with record […]

Next
Berkshire Hathaway is investing $ 570 million in technology startup of the Snowflake
News

Happy New Year from the chief editor

Dear colleagues, interviewers, reporters and our readers! In the name of the entire editorial project team of LDaily we wish you a Happy New Year! The outgoing year was very special for me personally and for all of my surroundings. Thanks to the “rebirth” of LDaily we got the attention of the best readers – […]

Next
Berkshire Hathaway is investing $ 570 million in technology startup of the Snowflake
News

Antimonopoly Committee of Ukraine gave permission for the control of the distributor of agricultural equipment AC-TERRA to businessman Vadym Yermolaev

Natural person – citizen of Ukraine Vadym Ermolaev will gain control over the company AC-Terra International Ltd. due to the resolution of Antimonopoly Committee (AMCU). This information was made public on its website of Interfax. Accordingly with the information, which published the Antimonopoly Committee on its website, AC-Terra International implements agricultural technical equipment of the […]

Next
Berkshire Hathaway is investing $ 570 million in technology startup of the Snowflake
News

Will russian gas line TogliattiAzot be built by passing Ukraine?

In the near future Ukraine may lose some revenue from the transit of Russian gas. Foreign  provider JSC Togliatti, which is among the top ten international flagship for the production of ammonia, is considering the possibility of building an additional pipeline from their company to the terminal in Taman port, by passing the Ukrainian part […]

Next
Berkshire Hathaway is investing $ 570 million in technology startup of the Snowflake
News

The National Bank announced the reason for the collapse of the hryvnia

The defining reason for the depreciation of the hryvnia against the dollar and the euro in the third quarter was the deterioration of business expectations. Deteriorating expectations created increased demand for the currency, which turned out to be higher than supply. This contributed to the devaluation pressure in the foreign exchange market in the III […]

Next
Berkshire Hathaway is investing $ 570 million in technology startup of the Snowflake
News

Experts estimated the damage to the global economy due to coronavirus

Experts predict the collapse of the economy if states do not continue the policy of fiscal support for business. Information was reported by the American publication of Bloomberg. The main problem today – is a continuation of the spread of the virus that outbreaks around the world. Even when the vaccine is developed, its use […]

Next
Berkshire Hathaway is investing $ 570 million in technology startup of the Snowflake
Analytics

Real Estate Market: Slow Growth

In general, over the past 2 years, the real estate market has shown positive dynamics in almost all segments, especially since the situation has equaled both in the capital and in the regions. Let’s consider more different segments. THE RESULTS OF THE 4TH QUARTER OF 2017 AT THE OFFICE REAL ESTATE MARKET IN KIEV The […]

Next
Berkshire Hathaway is investing $ 570 million in technology startup of the Snowflake
News

Antimonopoly Committee of Ukraine has fined “Gazprom” for a record sum of $ 85 billion UAH

Antimonopoly Committee of Ukraine has fined the Russian company “Gazprom” for 85 billion UAH  for abuse  of monopoly power. This information was announced by the head of department Yuriy Terentyev on his Facebook. He emphasized that the “Gazprom” is a monopolist in the market of transit of natural gas through main pipelines on the territory […]

Next
Berkshire Hathaway is investing $ 570 million in technology startup of the Snowflake
News

The world’s largest free trade area has been created

China, Australia, Japan and 12 other countries in the Asia-Pacific region have formed the world’s largest free trade area. The agreement was signed during the online summit of the Association of Southeast Asian Nations. We are talking about the creation of a free trade area called the Comprehensive Regional Economic Partnership (CREP). The following countries […]

Next
Berkshire Hathaway is investing $ 570 million in technology startup of the Snowflake
News

Bayer suffered a net loss of 8.1 billion euros in the first half against a year earlier

The net loss of the German chemical and pharmaceutical concern Bayer AG in the first half of 2020 amounted to 8.059 billion euros against profit a year earlier, according to the company’s reports. The loss in terms of the share was 8.2 euros versus 1.68 euros in profit a year earlier. Revenues decreased with 0,3% […]

Next
Berkshire Hathaway is investing $ 570 million in technology startup of the Snowflake
News

Over the past year significantly reduced the Canon profits

Net income of one of the largest manufacturers of digital cameras in the world decreased by 31.6% in 2016 compared to the year 2015. Last year it was equal to the index of 1,298 billion US dollars. These data are shown in the statements of Canon (headquartered in Tokyo, Japan), as reported UkrainianForbes. For the […]

Next
Berkshire Hathaway is investing $ 570 million in technology startup of the Snowflake
News

Berkshire Hathaway sells shares of US banks by buying 21 mln. shares of Barrick Gold for $ 563 million

Last week, Berkshire Hathaway has submitted a report form 13F to the Securities and Exchange Commission (SEC) for the second quarter of 2020, by providing an updated information about its portfolio of shares for publicly traded companies. The portfolio of one of the most famous in the world of investment companies headed by Chairman and […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com