Snowflake Inc.

Snowflake was one of the most anticipated and successful IPOs of 2020, and the company’s launch and growth have attracted extreme excitement and interest from investors, including ones not normally associated with tech IPOs. Critics say this has gone way beyond any realistic expectations for Snowflake’s growth, but the stock has attracted the interest of some of the largest names in the finance and technology industries.

Snowflake was founded in 2012 by Oracle data engineers, Benoit Dageville and Thierry Cruanes. At that time, organizations would typically store their data using on-site servers. This was hugely expensive, tied organizations to legacy systems, and required constant maintenance. Instead of being accessible in one place, organizations relied on multiple data ‘silos’; for example, if sales and marketing data are held separately, it is not simple to search or access data stored in different places and in different formats.

Snowflake instead rents organizations space on its cloud, offering a centralized ‘data warehouse’ that eliminates the need for customers to buy and maintain expensive hardware. Users pay for the service by the processing time involved, with transparent pricing plans that allow the spend to increase as their users grow, rather than involving large jumps in cost. Snowflake also offers a single, simple interface for users to access their previously siloed data. This service has proved extremely popular. In 2020, Snowflake had around 3,110 customers, and in just under one year this number surged to 4,990, with more than 100 customers spending over $1 million per year.

Just prior to Snowflake’s 2020 IPO, Warren Buffett’s investment vehicle Berkshire Hathaway bought a large private stake in the company. The CRM giant Salesforce simultaneously bought an equivalent stake of $250 million. This contributed to a dramatic reception to the firm’s IPO, which launched on the New York Stock Exchange at $120 per share, well above analyst estimates. On the first day’s trading, the shares closed at $254, valuing Snowflake at $70 billion. As of 2021, Snowflake has a market capitalization of $117.9 billion. Its largest shareholders include ICONIQ Capital, a private investment management firm with major Silicon Valley executives as clients, and technology hedge fund Altimeter Capital.

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Frequently asked questions about Snowflake Inc.

Find quick answers to your questions about trading Snowflake Inc. at Saxo Bank. We have gathered answers to the questions we most often get from new and existing customers.

To buy Snowflake shares, simply log on to one of our platforms - SaxoInvestor, SaxoTraderGO or SaxoTraderPRO - and search for the ticker ‘SNOW’. If you don’t have an account, you can create one by clicking here.

A live price for Snowflake shares is visible on your account, simply log in and search for Snowflake. Then, select the trade ticket, click on the ‘I’ icon and then navigate to ‘Trading Rates’ to see transaction costs. New customers of Saxo can click here to open an account now.

On our platforms we offer plenty of different financial information to help you decide if Snowflake is the right investment for you. You will find stock analysis, financial reports, and current and historical price charts on your account. You can open an account here.

Snowflake does not pay a dividend to investors. Like many technology companies, Snowflake reinvests its earnings back into the company for growth and expansion into new ventures.

You can check how Snowflake shares have performed in the past by logging in to your trading platform account to see price charts and historical financial data. If you don’t have an account with Saxo, you can open one by clicking here.

Information on this page is not intended for investment advice or as an individual recommendation for trading. Reward to the author of this article was / is not related to his / her specific recommendation or views. Although Saxo Bank carefully collects and maintains these pages using reliable sources, Saxo Bank can not guarantee that this information is correct, complete or current. If you use this information without verification, it is at your own expense and risk. No rights can be inferred from the information on these pages. Investment involves risks. Your investment may be worth less. Read more information about the specific product risks on the product pages.

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