❄️Snowflake, a San Mateo, Calif.-based cloud data warehousing company, increased its IPO price range from $75-$85 to $100-$110. In the middle, it would raise $2.94 billion at nearly a $29 billion market cap (plus concurrent purchases by Berkshire Hathaway and Salesforce). Snowflake raised around $1.4 billion in VC funding, most recently at a $12.4 billion valuation, from firms like Sutter Hill Ventures (20.3% pre-IPO stake), Altimeter (14.8%), Iconiq (13.8%), Redpoint Ventures (9%), Sequoia Capital (8.4%), and Dragoneer. http://axios.link/l5Xw
• Allegro, a Polish e-commerce company, plans to go public in Warsaw at a valuation of between €10 billion and €12 billion. If successful, it would become Poland’s most valuable listed company. Backers include Cinven, Permira, and Mid Europa Partners. http://axios.link/P8cw
đźš‘ Athira Pharma (fka M3 Biotech), a Seattle-based regenerative medicine startup focused on neurological diseases, set IPO terms to 10 million shares at $15-$17. It would have a fully-diluted market value of $480 million, were it to price in the middle, and will list on the Nasdaq (ATHA) with Goldman Sachs as lead underwriter. It raised in VC funding from such firms as Perceptive Advisors, RTW Investments, Viking Global, and Venrock. http://axios.link/ac1m
• Corsair Gaming, a Fremont, Calif.-based gaming hardware maker owned by EagleTree Capital, set IPO terms to 14 million shares at $16-$18. It would have a fully-diluted market value of $1.7 billion, were it to price in the middle. Corsair plans to trade on the Nasdaq (CRSR) with Goldman Sachs as lead underwriter, and reports $24 million of net income on $684 million in revenue for the first half of 2020. http://axios.link/WHik
• JFrog, an Israeli software management company, increased its proposed IPO range from $33-$37 to $39-$41. It would raise at a fully-diluted market value of $4.1 billion, were it to price in the middle, and will list on the Nasdaq (FROG) with Morgan Stanley as lead underwriter. It raised around $228 million in VC funding from firms like Gemini Israel Ventures (15.8% pre-IPO stake), Scale Venture Partners (10.8%), Sapphire Ventures (9.9%), Insight Partners (9.8%), Dell (9.3%), and Qumra Capital (5.2%). http://axios.link/MJyc
đźš‘ GoodRx, a price comparison app for prescription drugs at local pharmacies, set IPO terms to 34.6 million shares at $24-$28. It would have an initial market cap of nearly $10 billion, were it to price in the middle, and list on the Nasdaq (GDRX) with Morgan Stanley as lead underwriter. The company reports nearly $55 million of net income on $257 million in revenue for the first half of 2020. Backers include Silver Lake, Francisco Partners, and Spectrum Equity. http://axios.link/1I5y
đźš‘ Oncorus, a Cambridge, Mass.-based developer of viral immunotherapies for solid tumors, filed for an $86 million IPO. The pre-revenue company plans to list on the Nasdaq with Jefferies as lead underwriter, and raised in VC funding from firms like MPM Capital (17% pre-IPO stake), UBS Oncology (14.1%), Deerfield Management (11.6%), Cowen Healthcare Investments (7.5%), Arkin BioVentures (5.6%), and Perceptive Advisors. http://axios.link/QGTi