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

  • 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 […]

  • Netflix’s future growth will come from India and other major Asian markets
    News

    Netflix’s future growth will come from India and other major Asian markets

    Shares of Netflix fell after the company released a quarterly report on October 20 with only 2.2 million new subscribers. At the same time, over the last week, stock growth has resumed and since the beginning of the year, the share price of Netflix has risen by 59%. The company’s management and analysts cited the […]

  • Alibaba will acquire part of the shares during the IPO of the Ant Group
    News

    Alibaba will acquire part of the shares during the IPO of the Ant Group

    Chinese Internet company Alibaba will buy more than a fifth of the shares of its division, specifically of a fin-tech company Ant Group, as part of its future IPO on the stock exchanges of Hong Kong and Shanghai, Alibaba said in a release. “Alibaba has agreed to subscribe for 730 million shares of the initial […]

Read also

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

Taxes in the modern world: the rating of the most sophisticated

Taxes  is  some kind of insurance which the person shall pay for the sake of the own benefit and social security in the future. How fine is a line between fair and unfair taxes? How to understand when does the state demand from us superfluous? What of the countries are succeeded in it more than […]

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

India increases the purchasing of Ukrainian wheat

 As Yaroslav Levitskyi, Pro Agro Company analyst mentioned, in this season the India could be one of the three potential buyers of Ukrainian wheat. Now it the one of the biggest importer of Ukrainian sunflower oil and the pea. The main reason for it is a lacking volume and high local wheat price in India. […]

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

Tesla plans to produce the Model Y with the new technology battery at the plant in Berlin

Shares of Tesla rose by 2.73% to $ 425.30 on Wednesday amid overall stock index growth, however, this growth was lower than the growth of shares of competitors such as Ford, General Motors and Chinese automaker NIO, which rose by 3.58%, 4% and 4.3% respectively. Tesla’s current share price of $ 77.19 is below the […]

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

As US retailers are boycotting the “Black Friday” in 2015?

At 27th of November, 2015 the famous American company REI, which sells products for sports, tourism and travel, reported that on Friday – 30th of November, all 143 stores will be closed. The company decided to arrange for their employees a paid for the output. This decision is a kind of protest against rampant consumerism. […]

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

Ukrainian restaurateurs sue for Oliva trademark

Ukrainian restaurateurs cannot share the trademark Oliva. The former partners, Dmitry Plyatsuk the owner of marks Viva Oliva and Yuriy Kolesnik he owner of Oliva served counterclaims to revoke the trademark of the competitor. January, 20 Solomenskiy District Court of Kiev will consider the claim of Viva Oliva to the Ukrainian Institute of Intellectual Property […]

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

Commerzbank is suing four banks in the US for $ 2 billion

Failure by banks of their obligations under the agreement is a part of the reason for the lawsuits, the amount of which is sometimes measured in billions of dollars, it depends on the losses. One of the largest financial institutions in Germany  Commerzbank, requires four US banks for damages in the amount of $ 2 […]

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

Step by Step: How the Ukrainian economy met 2018

Ukraine begins 2018 with a fairly stable economic and political platform. In comparison with the catastrophic economic downturn in 2014 and the subsequent recession that lasted until the end of 2015, the economic growth of 2.2% in 2017 looks encouraging. The first step towards the exit from the permanent crisis is made, but the main […]

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

IBI-Rating and UCRA announced a merger

The rating agency IBI-Rating and the Ukrainian credit rating agency (UCRA) announced a merger. Both companies have the status of authorized rating agencies of the National Commission on Securities and Stock Market of Ukraine and are engaged in the business on the credit rating according to the National Rating Scale. It is reported by the […]

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

EBRD credits the Meest Express on $ 10m

According to Delo.ua, the European Bank for Reconstruction and Development (EBRD) represents the credit to Meest Express  of 10 million dollars on post automatic machine network development. The EBRD press-service informed about it.The postal and logistic operator will have  planned  to increase the share on the Ukrainian market and to develop the existent network until […]

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

The court arrested the “Fozzy-Food” accounts, because of the underestimation of VAT

The Solomensky District Court of Kiev had arrested the “Fozzy-Food” accounts (Vishneve, Kyiv region) due to the underreporting by the officials of the value added tax. This is stated in the definition of the Court of 18 May, says the Ukrainian News. The Solomenskiy District Court of Kyiv has received a request for the seizure […]

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

Metinvest went to the US Bankruptcy Court

US Bankruptcy Court in Delaware will consider the appeal of the Metinvest company about the restructuring of Eurobonds. US Bankruptcy Court in Delaware appointed for February 9 meeting on the treatment Metinvest BV (Netherlands), the parent company of Ukrainian mining and metallurgical group Metinvest to authorize the US proposal for the restructuring of its Eurobonds […]

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

The Reflection of the Ukrainian Economy in the Mirror of German Capital

The attractiveness of Ukraine for many foreign investors has been very high and still remains so. However, due to a number of circumstances, the business climate is not yet conducive to the inflow and growth of investment. The main investors in Ukraine are the Netherlands, Germany, the Russian Federation, Austria, the United Kingdom, the British […]

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

Walt Disney has invested $ 400 mln. to the creation of new cable channel

The Walt Disney Company has decided to invest in the creation of successful new cable channel called Viceland, which involve “fresh” audience and raise ratings. A few weeks after the initial investment, Disney has doubled the amount of investment in a digital media company Vice Media; as a result of the total transaction amount is […]

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

Ukraine and Canada signed an Agreement about free trade zone

Today 11 July Ukraine and Canada signed an agreement about establishment a free zone. During the signing were attended the President of Ukraine Petro Poroshenko and Prime Minister of Canada Justin Tryudou. Ukrainian MP Stepan Kubiv wrote on his page on facebook, it is a very important document for Ukraine. He will bring the relations […]

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

Diageo accused LVMH of not paying dividends of 181 million euros

The world’s largest producer of alcohol, the British Diageo has initiated arbitration proceedings with the French luxury goods manufacturer LVMH Moet Hennessy – Louis Vuitton SA due to non-payment of dividends in the amount of 181 million euros in 2019. Diageo owns 34% in the joint venture with LVMH for the production of alcoholic beverages […]

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

SkyUp expands flights from Ukraine

Ukrainian company SkyUp Airlines opens new foreign routes departing from Kyiv, Lviv and Kharkiv. On Tuesdays and Fridays flights are scheduled from Kiev to Belgrade and Stockholm, on Thursdays and Sundays in Bratislava, on Wednesdays and Sundays in Amman, on Mondays and Thursdays in Colombo, on Wednesdays and Saturdays in Dubai. From Lviv on Wednesdays […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com