The data-analytics firm’s stock closed at US$255 on its first day of trading. Snowflake’s US$3.36-billion IPO is the largest this year on a U.S. exchange by an operating firm. (Bloomberg)
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The data-analytics firm’s stock closed at US$255 on its first day of trading. Snowflake’s US$3.36-billion IPO is the largest this year on a U.S. exchange by an operating firm. (Bloomberg)
Talking point: Snowflake now has a larger market value than Uber, General Motors or Dell. It’s the latest of a number of tech firms that recently went public and did well on their first day. Software company JFrog, which also debuted today, closed up 47 per cent. U.S. firms had brought in over US$78 billion via public offerings this year, as of last week, putting the market on pace for one of the best years since 2000. Snowflake’s strong first day is paying off for some big-name investors in the firm, including Mark Zuckerberg, Warren Buffet and Jack Dorsey, all of whose stakes are up.
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