Snowflake has issued $2 billion in bonds, aiming to buy back shares and consider potential acquisitions, despite a 43% decline in value this past year.
The company plans to use the bond proceeds to buy back up to $575 million worth of its shares, while also keeping acquisition options open.
Since its IPO, Snowflake's value dropped significantly, partly attributed to financial disappointments and a major data breach affecting customer data, reducing investor confidence.
Despite its challenges, including leadership changes and cybersecurity incidents, Snowflake's initial valuation skyrocketed post-IPO, reflecting a strong demand for cloud data solutions.
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