Snowflake, a cloud based database specialist is about to raise $3bn - $4bn in a record software IPO. This will see it be the biggest inital public offering for a software company in history. More than half a billion dollars is coming from Warren Buffet's company Berkshire Hathaway, despite his aversion to young tech companies and IPOs.
So, this begs the question... why?
Its stated that Snowflake brings an "Amazon like approach to data warehousing" and we could talk for ever on the intricate differences between their offering compared to others in the same marketplace, but surely the most obvious comment to make is that this throws out a signal that data is going to become probably the most valuable asset on the planet.
Data is the oil that "fuels" AI technology and as artificial intelligence becomes more integrated into our daily lives, the importance of structured, labelled data will become more and more important.
There will definitely be more to come!
CATCHING SNOWFLAKES is fun. It is about to become lucrative. Many investors will scramble for shares in Snowflake, a maker of database programs, when it goes public on the New York Stock Exchange on September 16th. It is expected to be the largest ever initial public offering of a software company, raising around $3.5bn and valuing the eight-year-old firm at about $33bn.
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