Snowflake shares more than double. It's the biggest software IPO ever

erek

erek

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(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
 
https://twitter.com/AMD_Enthusiast/status/1307460348358864897

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KarateBob said:
Seriously question: had anybody here heard of Snowflake before their IPO? These record number seem super fishy.....
Click to expand...
I mean, a lot of companies that serve non-direct consumer needs are often rarely heard about. Asking people who L(3) are often gets a similar response (well, they are no longer called that, anyways).

That being said, it's IPOs, stocks, and new tech companies. Sketchy is part of the game.
 
Tooling is advanced and easy to use. Saved us in a lot of development time integrating lots of different data sources. Not sure how much we pay though.
 
I just don't see how this company can compete against Amazon/MS long term..
 
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