Snowflake Gives Investors a Rare Opportunity to Disrupt Amazon
- Backers including Buffett’s Berkshire banking on cloud boom
- IPO on Wednesday may generate a market value of $30 billion
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Snowflake Inc. is riding a wave of enthusiasm leading to its public offering Wednesday, highlighting optimism that the cloud-computing company can more than hold its own against the technology industry’s toughest rivals.
The San Mateo, California-based company, founded in 2012, is seen as a market leader in a key product area dominated by Amazon.com Inc., the top provider of public cloud storage and services. The software maker has also generated blockbuster revenue growth and customer loyalty, according to a regulatory filing.