Snowflake, the $12.4 billion cloud data warehousing startup, files to go public in one of the year's most anticipated tech IPOs
- Snowflake has filed papers to go public, setting the stage for one of the most anticipated IPOs in tech.
- Snowflake, a dominant player in
clouddata warehousing which is valued at $12.4 billion, plans to list on the New York Stock Exchange under the ticker symbol "SNOW."
- The company reported that its revenue jumped from $97 million in 2019 to $264.7 million in 2020. But its losses ballooned from $178 million to $348.5 million in the same period.
Snowflake, the $12.4 billion cloud data warehousing startup, is going public.
The hot startup on Monday filed initial
Snowflake said its revenue jumped from $97 million in 2019 to $264.7 million in 2020. But its losses ballooned from $178 million to $348.5 million in the same period.The company was reportedly aiming for a valuation of as high as $20 billion. Snowflake just raised $479 million in February at a $12.4 billion valuation. In total, Snowflake has raised $1.4 billion from investors including Sequoia and ICONIQ Capital.
Snowflake said it has about 3,100 customers, including 56 clients that contributed about $1 million in a 12-month period.Got a tip about Snowflake or another tech company? Contact this reporter via email at firstname.lastname@example.org, message him on Twitter @benpimentel or send him a secure message through Signal at (510) 731-8429. You can also contact Business Insider securely via SecureDrop. Claim your 20% discount on an annual subscription to BI Prime by clicking here.
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