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Snowflake’s now a unicorn: Data warehouse service raises $263 million on massive valuation

The cloud-based data warehouse service Snowflake announced the mammoth investment this morning, raising $263 million in a round led by Iconiq Capital, Altimeter Capital, and Sequoia Capital, in a fundraising round that values it at $1.5 billion, reports TechCrunch. Early last year it raised $100 million, and is likely headed for an IPO. CEO Bob Muglia told the site: “We have put ourselves on the path to IPO. That’s our mid- to long-term plan. This funding allows us to go directly to IPO and gives us sufficient capital that, if we choose, IPO would be our next funding step.”

Read the full story at TechCrunch.MB