Snowflake IPO Date that was on Wednesday the 16th of September and saw a 112% growth in their share price from their IPO price of 120 per share and the day finished off at 254 per share. Snowflake was founded in 2012 and they are a software as a service or a SaS company and are arguably one of the hottest tech stocks in silicon valley right now. Snowflake is available on services like AWS google cloud as well as azure as well and the value proposition for their software. Snowflake has a platform that allows for the storage and manipulation of data to be used for big data analysis which can drive better data-driven decisions at an executive level.

Snowflake company has grown massively over the most recent years. In its most latest security filing the company reported having over 3100 customers and that’s double the total from just a year ago and that includes 146 of the fortune 500 companies. It includes companies like Instacart, Square, Caterpillar, Adobe, and many more with the goal of all of these companies to enhance performance scale and productivity by using snowflakes. Snowflake has seen a huge increase in their revenue year over year with a sales increase of more than doubled to 264.7 million in 2020 from 97 million in 2019 but do bear in mind that snowflake is still a loss-making company and unfortunately they did double their losses during the same period from 178 million dollars to 348.5 million dollars during last year

Nonetheless, this cloud-based software company is certainly changing the game in the growing space. Snowflake gained the interest and investment from both Berkshire Hathaway and Warren Buffet as well as Salesforce. IPO expected was going to be priced anywhere between 85 to a hundred dollars per share and then snowflake increased that price point to 110 a share and then by the time the IPO came around on Wednesday they were priced at 120 per share. This meant that by the time the IPO went live snowflake as a company was vowed at 33.3 billion dollars. Now after a couple of days of trading, the valuation of the snowflake has nearly doubled with their current market capitalization sat at 63 billion dollars adding 30 billion dollars to their market capitalization after seeing over a 100 increase in their share price throughout the past couple of days.

This stock was on the basis that Salesforce had invested 250 million dollars into snowflake to buy shares within the company Berkshire Hathaway also had the same agreement in place where they would also buy 250 million dollars worth of shares within a snowflake. But Berkshire Hathaway did go one step further and b an additional 4.04 million shares within a snowflake. Snowflake did raise over a hundred percent on the day to over 250 dollars per share pushing Berkshire stake within the company to be vowed at 1.55 billion US dollars and that’s from the initial 730 million dollars invested into the company which meant that Warren Buffet and Berkshire Hathaway netted off unrealized profits for the day somewhere in the region about 800 million dollars that’s the equivalent of about 33 million dollars an hour or 550 000 per minute. That is like a couple of Lamborghini every single minute of the day. Salesforce is bullish on the stock long term because people wouldn’t believe that Berkshire Hathaway or warren Buffet would have invested a single cent into the company if they didn’t think that it had long-term potential

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