Warren Buffett’s US company – Berkshire Hathaway intends to invest more than $ 570 million in Snowflake, a cloud technology company.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n","protected":false},"featured_media":123023,"menu_order":0,"template":"","newscat":[9],"newstag":[26351,25448,973,24347,28430,28467,26361,980,967,28429,28431,26353],"issues":[],"class_list":["post-123022","news","type-news","status-publish","has-post-thumbnail","hentry","newscat-novosti","newstag-berkshire-hathaway","newstag-ibm","newstag-investment","newstag-ipo","newstag-salesforce-ventures","newstag-technology-startup-of-snowflake","newstag-warren-buffett","newstag-ynvestyczyy","newstag-investycziyi","newstag-tehnologycheskyj-startap-snowflake","newstag-tehnologichnyj-startap-snowflake","newstag-uorren-baffet"],"_links":{"self":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/news\/123022","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/types\/news"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/media\/123023"}],"wp:attachment":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/media?parent=123022"}],"wp:term":[{"taxonomy":"newscat","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/newscat?post=123022"},{"taxonomy":"newstag","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/newstag?post=123022"},{"taxonomy":"issues","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/issues?post=123022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}