Snowflake, the cloud-based data warehouse company, doesn’t tend to do small rounds. On Friday night word leaked out about its latest mega round. This one was for $479 million on a $12.4 billion valuation. That’s triple the company’s previous $3.9 billion valuation from October 2018, and CEO Frank Slootman suggested that the company’s next finance event is likely an IPO.
The shares closed Friday at $7.23 and are up 1.4 percent so far this year.
Today, on Twist’s quarterly earnings call, the company also reported that its revenue increased 49.3% year-over-year to $17.2 million. Twist forecast revenue exceeding $80 million for 2020. On Thursday morning, shares of Twist Bioscience (NASDAQ: TWST) were trading at just below $27. By Friday afternoon, they were just above $32 a share, a rise of more than 18%, bringing its market capitalization to $1.1 billion.