Cloud vendor Snowflake saw its share price more than double on its opening day of trading, and its valuation rocket to $70 billion, just months after it reportedly mulled a listing that would value it at $20 billion.
Snowflake CEO Frank Slootman told Bloomberg he was “thrilled with the reception.
“What we have on the whole industry is a product that was built from the ground up, a clean sheet of paper by a group of people who are some of the world’s greatest database technology architects. It’s one that was lacking all this time and one that gets completely redesigned and re-imagined for cloud scale computing. It’s a completely different product architecturally.
