Cloud Computing Company Snowflake to IPO

Privately held Snowflake Inc., which makes software for storing and managing cloud data stored in data warehouses, filed on Monday to conduct an IPO.

Goldman Sachs, Morgan Stanley, J.P. Morgan, Allen & Company, and Citigroup will lead a consortium of nearly two dozen investment banks bringing Snowflake public. Although much of the company's S-1 filing with the SEC remains blank at present and must still be filled in, Snowflake is known to have carried a private-market valuation of $12.4 billion as recently as February.

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Source Fool.com