Warren Buffett-backed Snowflake hits $70bn value in biggest ever software IPO

Cloud storage company Snowflake made Wall Street history as the largest ever software company to debut on the stock market, with shares doubling on its first day of trading. Snowflake, which provides digital data warehouses on demand, notched up a valuation of $70bn (£54bn) after shares rose as high as 130pc on Wednesday, minting Frank Slootman, chief executive, Benoit Dageville, chief technology officer and Bob Muglia, former chief executive, as billionaires. “A stock is worth exact