Warren Buffett and Salesforce Will Invest in Snowflake's IPO

Cloud data management company Snowflake revealed in a regulatory filing today that Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) and salesforce.com (NYSE: CRM) would each make a $250 million investment in the company using a concurrent private placement in conjunction with its initial public offering (IPO). 

In an amended S-1 filed with the Securities and Exchange Commission today, Snowflake also said it will offer 28 million shares in a range of $75 to $85 per share, which would raise more than $2.7 billion for the start-up. This would value the cloud-native company at between $21 billion and nearly $24 billion.  

Image source: Getty Images.

Continue reading

Source Fool.com