Snowflake and JFrog raise IPO ranges as tech markets stay hot

Post date:



What market selloff?

Despite last week’s market declines, two big IPOs are rolling ahead this week, with Snowflake and JFrog both boosting their IPO price ranges this morning. The jump in expected pricing means each IPO will likely raise more capital, valuing the firms more richly than their initial ranges made clear.

Snowflake’s first IPO range valued it comfortably north of $24 billion and its IPO detailed that both Berkshire Hathaway and Salesforce Ventures were going to pour capital into the big-data company. JFrog’s developer-derived profits and strong growth gave it a valuation of around $3 billion, far above its final private price.

Those figures are are now passé. This morning, let’s quickly calculate new valuations for both companies and dig into why they are managing to attract such strong investor demand.

JFrog and Snowflake’s new IPO price intervals

Starting with JFrog, the company’s preceding IPO price interval of $33 to $37 per share valued it between $2.92 billion to $3.28 billion, not counting equity reserved for its underwriting banks. The company is now targeting a $39 to $41 per-share price range, a steep gain from its preceding target.

JFrog still intends to sell eight million shares, giving the company a $312 million to $328 million gross raise, before counting other shares that are being sold by existing shareholders and reserved equity for underwriters.




The 'Father of the Bride' cast reunited for the Zoom wedding of the year

It’s been 25 years since the last Father of the Bride movie, and 2020’s trend of virtual cast reunions has finally...

Travel Guide to Batad and Banaue Rice Terraces (Philippines)

Banaue Rice Terraces — an iconic and ancient landscape of the Philippines that is said to be the greatest engineering masterpiece of the indigenous people...

Demi Lovato Returns to Social Media in Wake of Max Ehrich Split, Seemingly Shades Her Ex

Just a few days ago, Demi Lovato was set to exchange vows with Max Ehrich at some point in the near future. Now,...