Data warehouse firm Snowflake reports bigger loss in first post-IPO quarterly report

(Reuters) — Warren Buffett-backed data warehouse firm Snowflake reported a bigger third-quarter loss on Wednesday, in its first quarterly results following a blockbuster market debut in September, sending its shares more than 5% lower after the bell.

The San Mateo, California-based company, which has 3,554 customers, raised $3.36 billion in its initial public offering after it was priced above the target range in the biggest U.S. listing so far this year.

Snowflake said product revenue, or sales from services on its platform, more than doubled to $148.5 million, accounting for 93% of total revenue in the quarter.

Founded in 2012 in San Francisco, Snowflake sells a cloud data platform which offers to consolidate a business’ data onto one platform. Cloud-based business services have seen rapid growth this year as offices around the world adapted to working remotely during the COVID-19 pandemic.

Net loss for the quarter ended Oct.

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Zappos Founder Tony Hsieh Dies at 46; Bezos Mourns Untimely Loss

(Bloomberg) — Tony Hsieh, the retired CEO of Zappos.com who revolutionized the online shoe industry and gained notoriety for his company’s unique corporate culture, has died. He was 46.

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Puoy Premsrirut, a lawyer for Hsieh, told news outlets that Hsieh had been injured in a house fire while visiting Connecticut. He was with family there when he died Friday night, KLAS-TV reported. A Nov. 18 house fire in which Hsieh is believed to have been injured remains under investigation, according to The Hartford Courant, which cited the New London, Connecticut, fire chief and reported the home that burned is owned by a long-time Zappos employee.

A Harvard graduate, Hsieh gained success in the dot com era. He joined Zappos in 1999 when it was called ShoeSite.com and led it for two decades. Amazon.com Inc. purchased the company for $1.2 billion in 2009 and Hsieh remained as chief executive

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Unity Software Jumps After Loss Widened, Revenue Beat

Unity Software  (U) – Get Report shares climbed after the videogame publisher, in its first report as a public company, posted a wider-than-expected third-quarter net loss and revenue beat estimates.

Shares of the San Francisco publisher of games including “Lego Microgame” and “Fall Guys” at last check moved up 8.1% to $110.

The software company’s net loss widened to $144.5 million, or 97 cents a share, from a loss of $45.7 million, or 75 cents, in the year-earlier period.

Revenue jumped 53% to $200.8 million from $130.9 million. 

A survey of analysts by FactSet produced consensus estimates of a GAAP net loss of 33 cents a share, or an adjusted loss of 15 cents, on revenue of $186.9 million.

Customers that generated more than $100,000 of revenue increased to 739 from 553 a year earlier.

“Our robust growth has reinforced our confidence in the fundamental strength of our

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