That is good news indeed - I have been waiting for this ever since I read OKTA’s peek under the tent of fastet growing applications. They came out on top in 2019:
These IPO’s keep coming out of Silicon Valley at higher and higher valuations. I know a few young men that work that graduated university the past couple of years and work for Snowflake. I’m happy for these great guys since they received options at the time of hire. I figured the guys that were hired two years ago are sitting on roughly 8x incrase in their option value at the current $12.4B valuation. I lament the fact that the valutions on SaaS companies are so high that we do not get to partake in the early valuation runup.
By all accounts they are competing and winning against AWS, MSFT, SAP, IBM and Terradata. We need to get one our database experts to help us understand the difference between data warehousing and database applications.
I’m trying to figure out if they’re a threat to MDB; looks like AYX is a partner.
The valuation will be absurd. I think they will get a $20 billion valuation at the first day, so all upside is priced in.
Considering they were last valued at $12.4 billion, they’ll probably be valued at more than that in the offering, and double that for the first trade, easily we’re looking at $30 billion market cap on day 1.
Especially considering ZI (ZoomInfo) went public at $18 billion recently. And Snowflake will be a lot more anticipated than that, I’ve been waiting for them to IPO for over a year. There’s no way this trades at only a little more than what ZI is at.
Also Nikola just went public and valued at $24 billion, despite having no sales. So it’s not just SaaS that’s getting the crazy prices. Sometimes one has to look at unconventional IPOs that just don’t have the hype surrounding them and they do very well.