Snowflake Looks To Raise About $2.38 Billion In U.S. IPO

Berkshire Hathway Inc and Salesforce Ventures LLC, each, agreed to buy $250 million of its stocks in a private placement, Snowflake said. (https://bit.ly/2F8R3mw)

Snowflake confidentially filed to go public earlier this year, shortly after its last funding in February that valued it at over $12 billion. Sequoia owned an 8.4% stake in the company prior to the offering.

The debut will mark yet another marquee public listing for a Silicon Valley startup, even as all eyes are on Airbnb, Palantir and DoorDash, all expected to go public before the end of the year.

The Silicon Valley unicorns are looking to ride the stunning recovery in U.S. capital markets from the COVID-19 pandemic that earlier this year forced several companies to postpone their debut.