Snowflake Soars Into Tech Big Leagues With $70 Billion Value

Cloud-data software maker’s shares more than double at open
Company now tops Uber, Dell and General Motors in market value

WATCH: Snowflake CEO Frank Slootman discusses the first day of trading on the NYSE.(Source: Bloomberg)

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By Crystal Tse, Nico Grant, and Katie Roof

September 16, 2020 at 4:41 PM UTC

Updated on

September 16, 2020 at 8:45 PM UTC

This article is for subscribers only.

Snowflake Inc. soared in a euphoric stock-market debut that transformed the eight-year-old software company into business valued at more than $70 billion.

Snowflake’s $3.36 billion initial public offering is a record for a software company and the biggest in the U.S. this year. Its share price soared as much as 166% Wednesday, minting fortunes inside the company and across Silicon Valley.