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Cloud Data Platform Provider Snowflakes Files for $100 Million US IPO

Esther Thin

Snowflake Inc, an ecosystem Cloud Data platform provider, has filed Form S-1 Registration Statement on August 24, 2020 with U.S Securities and Exchange Commission to raise up to $100 million IPO. Pricing terms are yet to announce. Sources estimate the total proceed raised would up to $2 billion.

The company allows customers, partners, and data providers break down data silos and derive value from rapidly growing data sets in secure, governed, and compliant ways. They deliver the platform through a customer-centric, consumption-based business model, only charging customers for the resources they use.

The San Mateo, California-based company was founded in 2012 and booked $403 million in sales for the 12 months ended July 31, 2020. It plans to list on the NYSE under the symbol “SNOW.” Goldman Sachs, Morgan Stanley, J.P. Morgan, Allen & Company and Citi are underwriters of the IPO.

The company engages Cooley LLP as US Securities Counsel, and PricewaterhouseCoopers LLP as Independent Auditor.

#ipo #platform #cloud #data #PwC #NYSE




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