Snowflake is about to make its market debut in the largest ever software IPO

SectorFinancial Markets
CountryMiddle east

Snowflake banners decorate the New York Stock Exchange to market the debut of the software company's shares in New York on Sept. 16, 2020.Source: SnowflakeSnowflake is set to make its market debut on the New York Stock Exchange on Wednesday, in the largest ever software IPO. The stock will trade under the symbol "SNOW." Snowflake on Tuesday priced shares at $120, higher than the $100 to $110 range it estimated on Monday, and a huge bump from the $75 to $85 range it proposed in a filing last week. Investors are anticipating a blockbuster opening for the company that's generating over $500 million in annualized revenue and grew over 130% in the first half of 2020. The stock received a vote of confidence last week, when Snowflake revealed in a filing that Berkshire Hathaway and Salesforce each agreed to buy $250 million of stock more...