Initial Public Offering — going public on a stock exchange
An Initial Public Offering (IPO) is the process by which a private company offers shares to the public on a stock exchange for the first time. It provides liquidity for early investors and founders, and raises capital, but comes with significant regulatory and reporting obligations.
Snowflake's 2020 IPO raised $3.4B and was the largest software IPO in history at the time — with Warren Buffett buying in at the IPO price.