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Cloud Data Firm Snowflake Files for IPO Showing Revenue Growth

Aug. 24, 2020, 8:43 PM

Snowflake Inc., a cloud data platform that was valued at $12.4 billion in a February funding round, filed for an initial public offering, disclosing revenue that has more than doubled year over year.

The San Mateo, California-based company in its filing Monday listed the size of the offering as $100 million, a placeholder that will likely change.

Three other software companies -- Unity Software Inc., Sumo Logic Inc. and JFrog Inc. -- also filed Monday to go public on U.S. exchanges. Palantir Technologies Inc. and Asana Inc. are also expected to file as soon as this week.

Snowflake ...

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