History
2020: Entry into the NYSE exchange
On September 16, 2020 at the New York Stock Exchange Snowflake trading in shares began. After opening of the platform the quotation rate of the company made $245. By the time of closing of the exchange the cost of securities reached $253.93, having increased almost by 112% in comparison with set for the IPO at the cost of $120.
At electronic biddings on September 16 the stocks Snowflake fell in price a little — by 2.14% up to $248.5. Market capitalization exceeded $70 billion that more than twice exceeds own assessment of the company before the IPO.
Berkshire Hathaway of Warren Buffett and Salesforce acquired shares of Snowflake at the IPO price of the amount for $250 million everyone therefore the volume of placement reached $3.86 billion Besides, underwriters of placement among whom there are Goldman Sachs and Morgan Stanley, received the purchase option 4.2 million more shares of Snowflake, and, in case of its implementation, the volume of the IPO company will approach $4.4 billion. Thus, it is about record listing in the USA since the beginning of 2020, Reuters notes.
Snowflake developed the cloud platform for storage and data processing allowing to integrate information in a single system which in the company call "source of the truth". Using this solution it is possible to collect, to manage, analyze information, to exchange it, to embed data in the applications written in different programming languages and also to develop analytical tools.
The founder and the managing partner of Fort Ross Ventures Victor Orlovsky, commenting on IPO Snowflake, wrote on the page on Facebook that entry into the exchange of so strong competitor will undermine domination of Oracle in the market of DBMS.
 | Monopolies of Oracle the end gradually comes. I think, we will see fall of Oracle from a pedestal at the expense of such outstanding new companies as Snowflake earlier, than the Universe will cool down — he considers.[1][2] |  |
Notes
Stock price dynamics
| Ticker company on the exchange: | NYSE:SNOW |
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