erek
[H]F Junkie
- Joined
- Dec 19, 2005
- Messages
- 10,894
(Courtesy of KarateBob )
"The partnership with Snowflake could help Salesforce compete even more effectively against the Amazon (AMZN), Microsoft (MSFT) and Google owner Alphabet (GOOGL). Snowflake competes with Amazon's AWS, Microsoft's Azure and the Google Cloud platforms.
Berkshire's investment marks a rare foray by Buffett into the world of tech startups. Berkshire tends to invest more in mature companies like Apple (AAPL), which is now the top holding for the "Oracle of Omaha." Berkshire also made a bet on Amazon last year.
Snowflake is not a typical Berkshire play, because it is not yet profitable, even though sales are growing rapidly.
Revenue more than doubled in the past six months, to $242 million. But the company posted a net loss of $171 million, slightly less than the loss it posted in the same period a year ago."
https://www.cnn.com/2020/09/16/investing/snowflake-ipo/index.html
"The partnership with Snowflake could help Salesforce compete even more effectively against the Amazon (AMZN), Microsoft (MSFT) and Google owner Alphabet (GOOGL). Snowflake competes with Amazon's AWS, Microsoft's Azure and the Google Cloud platforms.
Berkshire's investment marks a rare foray by Buffett into the world of tech startups. Berkshire tends to invest more in mature companies like Apple (AAPL), which is now the top holding for the "Oracle of Omaha." Berkshire also made a bet on Amazon last year.
Snowflake is not a typical Berkshire play, because it is not yet profitable, even though sales are growing rapidly.
Revenue more than doubled in the past six months, to $242 million. But the company posted a net loss of $171 million, slightly less than the loss it posted in the same period a year ago."
https://www.cnn.com/2020/09/16/investing/snowflake-ipo/index.html