Snowflake’s first-day pop means IPO left $3.8 billion on the table, the most in 12 years

(CNBC) One of the biggest problems with the traditional IPO process (and there are several) is that it’s impossible to say whether a deal is a success or a failure.  Snowflake, the cloud-based data management company that’s 2020?s biggest IPO, jumped 112% in its debut Wednesday. For investors who received allocation at the $120-per-share offering price (which, by the way, was 41% higher than the range

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