Salesforce Ventures is an investor in Crunchbase. Developer of a SaaS-based cloud data warehousing platform designed to safely and efficiently store, transform and analyze business data. Snowflake CEO Frank Slootman said the company generated well over $100 million in revenue in 2019.
Learn More. We are headquartered in Silicon Valley and are growing our team in the San Francisco Bay Area. And we provide customers with unlimited computing power that can reduce compute times from hours or days to seconds or minutes.”When Snowflake lands new customers, they increase their use of its product very rapidly. Together they have raised over 1.3B between their estimated 11.6K employees. Partners . Snowflake Computing top competitors are TeamViewer, Kaseya and LogicMonitor and they … I became a Forbes contributor in April 2011. Snowflake is a fully-managed service with a pay-as-you-go-model that works on structured and semi-structured data. The top 10 competitors average 472M. Snowflake's revenue is the ranked 3rd among it's top 10 competitors. As he explained, “We work with new digital enterprises that are growing rapidly and no longer need to make large capital outlays for on-premise computing. Its unique architecture delivers proven breakthroughs in performance, concurrency and simplicity. The IPO is an unwritten contract between employees and the company so they can realize their investment,” according to Slootman.His long-term vision is for Snowflake to pioneer and lead what he calls the “data cloud.” As he said, “AWS and Azure operate the infrastructure cloud, Salesforce is the app cloud, we want to be the data cloud — a platform that governs and secures private data and can manage rapidly growing workloads.
Snowflake — a San Mateo, Calif. provider of cloud-based technology for storing and analyzing data — could go public as soon as late June or July 2020, according to my February 13 interview with CEO Frank Slootman.On February 7, Snowflake raised a whopping $479 million in financing from investors including Salesforce that valued the company at $12.4 billion, according to (I have no financial interest in the securities mentioned).Slootman - who took the $68 billion (market capitalization) cloud software vendor ServiceNow public in 2012 — said Snowflake enjoyed 174% revenue growth in 2019. We're a highly collaborative group always on the lookout for great talent. That’s an increase of about 133 percent from its revenue during the same period the year prior, when it generated about $104 million in revenue. Facebook would be a great customer for our data cloud.”If Slootman can keep Snowflake growing rapidly after an IPO, those legacy database providers could slowdown. Try Snowflake free for 30 days and experience the cloud data platform that helps eliminate the complexity, cost, and constraints inherent with other solutions. I also teach business strategy and entrepreneurship at Babson College in Wellesley, Mass. They are realizing that they have to go to the cloud in order to attract talent because on-premise computing cannot operate modern software.”Snowflake — which added 500 new customers in the latest quarter — is gaining market share due to its “non-linear scale and performance.” He said, “We can handle thousand-fold increases in database usage from terabytes to petabytes.
“Our clients are increasing their utilization at over 100%.
We are managing abundance. Companies can increase their utilization from terabytes to petabytes without breaking a sweat.”Slootman believes that the competition is trying to follow in the trail Snowflake is plowing. Snowflake delivers: Prior generations of data warehouses created the struggle for data which results in groups waiting in line to get at data; not looking at the same data; and, wondering if they're acting on the most recent data. Snowflake's data warehouse built for the cloud finally ends this struggle. Snowflake Partner Network. For the first time, multiple groups can access petabytes of data at the same time, up to 200 times faster and 10 times less expensive than solutions not built for the cloud. Snowflake is the leading data warehouse built for the cloud. “We blazed a trail with our architecture by separating data and compute in the public cloud. Available on all three major clouds, Snowflake supports a wide range of workloads, such as data warehousing, data lakes, and data science. Generate more revenue and increase your market presence by securely and instantly publishing live, governed, and read-only data sets to thousands of Snowflake customers. Learn how at www.snowflake.com. With Snowflake, you get your data without limits. Slootman told CNBC that the company has over $100 million in revenue has “not touched” that money — presumably because Snowflake is generating enough cash flow from operations to fuel its growth. Due to stock-based compensation, however, he told CNBC that Snowflake does not generate a net profit.Snowflake is benefiting from an accelerating corporate shift from on-premise computing to the cloud. I appeared eight times in the 2016 documentary: "We The People: The Market Basket Effect." But Snowflake is worth more than four times its October 2018 value of $3.9 billion after it raised $450 million. Snowflake said in its IPO prospectus that revenue in the first half of 2020 more than doubled to $242 million, while its net loss narrowed slightly to $171.3 million. As Slootman explained, “After 30 years of investing in on-premise computing, companies are realizing that the excuses for not going to the cloud are bullshit. "We are winning customers who are switching from on-premise to the cloud and are taking business from Oracle and other legacy SQL players," he said.A Snowflake IPO will not be the end of its journey.