The software business is on fire. This is going to be by far the biggest year for software IPOs in history.
Four big software IPOs are pricing this week: Snowflake, Unity Software, JFrog, and Sumo Logic. Palantir and Asana are coming at the end of September.
Snowflake priced its IPO at $120 per share, raising $3.3 billion. Previous price talk over the weekend had been at $75-$85 per share, then raised to $100-$110 per share on Monday.
JFrog priced 11.6 million shares at $44, also above the prior range of $39-$41.
Snowflake is not only the largest IPO of year, it’s the largest software IPO ever. At $3.3 billion raised, it is more than three times bigger than the next largest, VMware in…