Snowflake’s IPO: The Details You Need To Know
Cloud data platform provider Snowflake filed an S-1 document with the U.S. Securities and Exchange Commission this week, providing information about the company’s financial performance, ownership and go-to-market plans in advance of its much-anticipated IPO. Here’s a deep dive into the details.
Ready To Go Public
This week, cloud data platform developer Snowflake, one of the most successful Silicon Valley startups in recent years, filed an S-1 document with the U.S. Securities and Exchange Commission detailing plans for its highly anticipated initial public offering.
Snowflake, founded in 2012 and based in San Mateo, Calif., developed a cloud-based data warehouse system to compete with on-premises data warehouse products from companies like IBM, Oracle and Teradata. More recently, Snowflake expanded its potential market by positioning its technology as a cloud data platform for a range of applications.
Snowflake has raised a staggering $1.4 billion in venture financing, including a $450 million round in October 2018 and a $479 million round in February of this year, putting the company’s valuation at $12.4 billion.
The S-1, more than 180 pages long, offers a look at the company’s product and market strategy, management, operations, finances and more.
Here are the key points to know about the Snowflake IPO.