Snowflake’s IPO could value it as high as $24B, Salesforce and Berkshire to invest – TechCrunch

On the heels of new filings from both Sumo Logic and JFrog, Snowflake, a venture-backed unicorn looking to go public on the strength of its data-focused cloud service, set an initial price range for its The $75 to $85 per-share IPO price target values the firm at between $20.9 billion and $23.…

Curated via Twitter from TechCrunch’s twitter account….

Immediately subsequent to the closing of this offering, and subject to certain conditions of closing as described in the section titled “Concurrent Private Placements,” each of Salesforce Ventures LLC and Berkshire Hathaway Inc. will purchase $250 million of our Class A common stock from us in a private placement at a price per share equal to the initial public offering price.

Based on an assumed initial public offering price of $80. 00 per share, which is the midpoint of the price range set forth on the cover page of this prospectus, each of Salesforce Ventures LLC and Berkshire Hathaway Inc. would purchase 3,125,000 shares of our Class A common stock.

In addition, Berkshire Hathaway Inc. has agreed to purchase 4,042,043 shares of our Class A common stock from one of our stockholders in a secondary transaction at a price per share equal to the initial public offering price that will close immediately subsequent to the closing of this offering.

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