CNBC News Corrections

Sutter Hill Ventures Managing Director Mike Speiser speaks onstage at TechCrunch Disrupt at Pier 48 on September 9, 2014 in San Francisco, California.
A low-profile investor who bet on Snowflake eight years ago is up more than $12 billion after IPO pop

Sutter Hill's stake is over $12 billion, rather than over $11 billion as previously stated in the headline and text. The prospectus shows a drop in ownership, but that's because it reflects shares that will be distributed to affiliates, not shares sold in the IPO.