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

(Reuters) — Warren Buffett-backed data warehouse firm Snowflake reported a third-quarter loss on Wednesday in its first quarterly results, following a blockbuster market debut in September and 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 that 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 October

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Woodbridge International Closes Sale of Warehouse Technology, Inc. to The Miner Corporation and …

Press release content from Globe Newswire. The AP news staff was not involved in its creation.

NEW HAVEN, Conn., Nov. 30, 2020 (GLOBE NEWSWIRE) — Woodbridge International, a global mergers and acquisitions firm, is pleased to announce the acquisition of its client, Warehouse Technology, Inc. by The Miner Corporation & Harvest Partners, LP.

Warehouse Technology Inc., headquartered in New Castle, Delaware is a leading distributor, installer and manager of loading docks, doors, warehouse storage and safety systems for more than 30 years. Warehouse Technology is a leading Blue Giant distributor in the United States and boasts a team of sales engineers and technicians with deep expertise solving facilities’ throughput, safety and space constraints.

President and CEO Mike Struempfler said, “We are excited to join the Miner team. Facility leaders desire providers that can offer consistent equipment design, installation and service nationwide. Miner allows us to deliver

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Mars Wrigley warehouse workers say they’re getting yelled at for washing their hands and wiping down equipment amid an $8 billion boom for candy this Halloween



a person wearing a costume: Inside the battle to get hazard pay at a Mars Wrigley's warehouse. Hollis Johnson/Business Insider


© Hollis Johnson/Business Insider
Inside the battle to get hazard pay at a Mars Wrigley’s warehouse. Hollis Johnson/Business Insider

  • Workers at an Illinois distribution center for candy maker Mars Wrigley have been demanding the company provide hazard pay and improve safety protocols during the COVID-19 pandemic.
  • Mars Wrigley produces popular candies like Twix, Skittles, and M&M’s. Ahead of this Halloween, the National Confectioners Association reported a 25% increase in chocolate sales.
  • Michael Samuel, a former worker at the Mars warehouse in Illinois, told Business Insider supervisors reprimanded him for taking extra time to wipe down equipment. Samuel helped get 100 signatures in a petition for safer working conditions before being fired on October 1, he said.
  • Mars declined to comment on the claims regarding working conditions in its Joliet, Illinois, warehouse because it said the workers are employed by third-party firms XPO Logistics and DHL. 
  • “They are not employed by
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Mars Wrigley warehouse workers are calling for safe working conditions during the COVID-19 pandemic



a person wearing a costume: Inside the battle to get hazard pay at a Mars Wrigley's warehouse. Hollis Johnson/Business Insider


© Hollis Johnson/Business Insider
Inside the battle to get hazard pay at a Mars Wrigley’s warehouse. Hollis Johnson/Business Insider

  • Workers at an Illinois distribution center for candy maker Mars Wrigley have been demanding the company provide hazard pay and improve safety protocols during the COVID-19 pandemic.
  • Mars Wrigley produces popular candies like Twix, Skittles, and M&M’s. Ahead of this Halloween, the National Confectioners Association reported a 25% increase in chocolate sales.
  • Michael Samuel, a former worker at the Mars warehouse in Illinois, told Business Insider supervisors reprimanded him for taking extra time to wipe down equipment. Samuel helped get 100 signatures in a petition for safer working conditions before being fired on October 1, he said.
  • Mars declined to comment on the claims regarding working conditions in its Joliet, Illinois, warehouse because it said the workers are employed by third-party firms XPO Logistics and DHL. 
  • “They are not employed by
Read More