IPO Snowflake, which will take place on the NYSE, will be held at the higher price than announced in early September.
On Monday, according to SEC applications, Snowflake, a company that makes storage software, raised its projected stock price to $ 100- $ 110, while the market valuation of the company could grow to $ 27.7 billion. – $ 30.5 billion. The initial estimate of the share price was: $ 75 – $ 85, which would estimate the company at $ 20.9 billion – $ 23.7 billion.
IPO Snowflake may become one of the most popular in 2020 because the growth of the field of cloud computing and the field of data processing and. Snowflake’s IPO also received the high publicity due to interest from companies such as Berkshire Hathaway and Salesforce Ventures, who agreed to buy shares of the technology startup for $ 250 million at the IPO price as part of a simultaneous private offering. In the middle of the new valuation range, Berkshire Hathaway’s total stake in Snowflake after the IPO will be estimated at $ 674.4 million.
According to the company’s press releases, Snowflake last raised nearly $ 479 million in February 2020, valuing the company at $ 12.4 billion. Overall, since its inception in 2012, Snowflake attracted funding worth about $ 1.4 billion.
Snowflake offers companies new ways to store and access data in the cloud, instead of relying on a database linked to the equipment. By July 31, Snowflake’s customers had reached 3,117, with more than 100 Fortune 500 companies (the 500 largest U.S. corporations by revenue). Among the clients Snowflake – Adobe, Logitech, DocuSign and Square.
Snowflake’s business is growing rapidly: revenue in the first half of 2020 more than doubled to $ 242 million from $ 104 million a year earlier. However, the company is unprofitable, the amount of losses for the last fiscal year was $ 178 million.
However, the field of the cloud computing and data processing and storage, in which Snowflake operates, is growing rapidly against the background of the mass transition of the global companies to remote work of employees, promising greater profits in the future.
Snowflake estimates its potential market at $ 81 billion. According to the research company International Data Corporation, by the end of 2020 the volume of the data management market will be $ 56 billion, and by the end of 2023 – $ 84 billion.
According to Markets and Markets, the global cloud computing market will grow from $ 371.4 billion in 2020 to $ 832.1 billion in 2025, or 124%. The average annual growth rate may be about 17.5%.
At the same time, some analysts point to the inflated price of the IPO and not the best time for listing. The largest technology index NASDAQ experienced a significant decline last week, although on Monday partially recovered losses, increasing by 1.87%.
On Monday, November 9, Pfizer CEO Albert Burla sold 62% of his shares in the pharmaceutical company. This was reported by Markers Insider, citing documents from the US Securities and Exchange Commission (SEC). On the same day, Pfizer and BioNTech announced that their experimental COVID-19 vaccine had been successfully tested. Albert Burla sold 132,508 shares […]
Shares of Nikola fell to 36.45% over the last week. Energy giant BP’s announcement on Wednesday that it is abandoning a potential partnership with Nikola, which exacerbated a number of problems faced by the startup in the recent days. Nikola planned to organize the production of its cars in partnership with other large manufacturers and […]
American JP Morgan Chase & Co. could pay the fine of nearly $ 1 billion in the connection with the US government’s investigation into the bank’s operations, reported Bloomberg. “JP Morgan Chase & Co. is preparing to pay nearly $ 1 billion due to the US government’s investigation of the market manipulations related to its […]
After a sensational debut Snowflake on the NYSE on Wednesday, shares of the cloud storage and processing company are expected to fall ahead of trading on Thursday. Shares of Snowflake fell to 4.3%. Snowflake brought 28 million shares to the public market to raise $ 3.36 billion during the largest software IPO in history. Shares […]
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 […]
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 […]
The US Securities and Exchange Commission (SEC) began to test the Chinese video streaming service under the iQiyi subscription, similar to Netflix. The inspection was reported by the Chinese company. In this statement, the ADR companies which trading on the Nasdaq, fell by 13% in price. The paper of Baidu, the main shareholder of iQiyi, […]
Ukrainian farmers may lose up to 118 billion hryvnias this year due to drought and frost. This was reported by the press service of the Agrarian Union of Ukraine. “This year, even the critically affected regions (Odessa, Mykolaiv, Kherson, Zaporizhia regions), despite the promises of the state, did not receive a single penny of assistance,” […]
Next
Your approach to trading matters. There are times when your trades have more chances to succeed. Try to build your trading plan around the periods with the highest liquidity and make sure to avoid the market in most dangerous times. The Most Suitable Periods Your ability to open and close trades at the best price […]
Next
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 […]
Next
The Danish Board of Appeal for the Environment and Foodstuffs has revoked the permit issued by the Environmental Protection Agency for the construction of the Baltic Pipe gas pipeline. “On July 12, 2019, the Danish Environmental Protection Authority issued an environmental permit for the construction of the Baltic Pipe. On May 31, 2021, the Environmental […]
Next
The European Bank for Reconstruction and Development intends to provide the “Astarta” agro-holding a loan of $ 20 million. The money will be spent for modernization of sugar factories. This was said in the message of the bank. According to the report, the European Bank for Reconstruction and Development is considering the possibility to give […]
Next
The European Union has expressed its readiness to help Ukraine to gain access to the coronavirus vaccine. This is stated in a statement following the summit, the text of which was published on Monday, October 6, on the website of the European Pravda. The parties agreed that a pandemic threatens the entire world and its […]
Next
The United States plans to announce the readiness of the American vaccine against the coronavirus infection COVID-19 in the near future. The promise was made on Thursday by US President Donald Trump during the final round of election debates with the Democratic candidate Joe Biden at Belmont University in Nashville, Tennessee. This was reported by […]
Next
Online resource Entrepreneur has published interesting and instructive stories from the lives of American and Canadian founders of the business in which they share the lessons they got from the worse mentors in their life Be a mentor Name: Melissa Ben-Ishay, Company: Baked By Melissa Lesson: The importance of open communication. When I think of the […]
Next
In Ukraine it is observed the decline in the production of sauces , namely the manufacture of ketchup, sauces based on mayonnaise and mustard. But, nevertheless, the export of these products was reduced insignificantly by manufacturers and domestic demand continues to be satisfactory. According to the State Statistics Service of Ukraine, figure of ketchup manufacturing […]
Next
In February, the number of new orders for aircraft in the US aerospace Boeing Corporation for the first time since November 2019 exceeded the number of cancellations. So, last month Boeing sold 82 planes and registered 51 cancellations of orders for aircrafts. At the same time, Boeing has launched 22 aircraft, including 18 aircraft 737 […]
Next
In early May, the network of elevators of the Prometey company gained another one – in the village Zaliznichnoe Olshansky district of Kirovograd region, in the Yosipovka railway station. The elevator is operable, on its base continues the acceptance of grain and oilseed crops of the gather 2015, – says the press service of the […]
Next
The American company Pfizer and the German BioNTech announced that their vaccine against COVID-19 is 91.3% effective for at least six months after the second dose of the drug. “Pfizer and BioNTech today announced updated results of an analysis of 927 confirmed symptoms of COVID-19, which were monitored in a key third phase of the […]
Next
At a meeting on Wednesday, August 11, the government replaced the interim head of Ukrzaliznytsia, appointing Oleksandr Kamyshin to replace Ivan Yuryk. The people’s deputy Alexey Goncharenko reported about it. In 2012-2019, Kamyshin was Rinat Akhmetov’s SCM investment manager and a member of the supervisory board of the stevedoring company Portinvest. Since 2020 he has […]
Next
Boeing Aerospace Corporation will start producing aircraft that will run entirely on biofuels by 2030. “To refuel the aircraft with environmentally friendly” fuel “, Boeing will need to modify the engines and other systems of aircraft. In addition, you will need a certificate confirming the safe operation of the aircraft,” – said in a press […]
Next
Leaders of Yahoo have told that they refused from the realizing of the business to China’s Alibaba in the amount of $ 30 billion. The Company also thinks what they have to do with the Japanese peace of the business, which is estimated at $ 8.5 billion. (In the Japanese company they owns […]
Next
The United Nations has raised its GDP growth forecast to 5.4% (from 4.7% in January) in 2021. This is stated in the report of the organization. According to the UN, after a sharp decline of 3.6% in 2020, the world economy is expected to grow by 5.4% this year. It is noted that global growth […]
Next
