Snowflake Inc.
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Snowflake Inc.
Type Public company
Traded as NYSE: SNOW
Founded July 23, 2012; 8 years ago
Founder Benoit Dageville
Thierry Cruanes
Marcin Żukowski
Headquarters Bozeman, Montana
Key people Frank Slootman, Chairperson & CEO
Benoit Dageville, President
Thierry Cruanes, CTO
Services Cloud Data Platform
$592 million (2020)
Revenue
Net income -$539 million (2020)
$5.921 billion (2020)
Total assets
$4.936 billion (2020)
Total equity
Website www.snowflake.com
Footnotes / references
[1]
Snowflake Inc. is a cloud computing-based data warehousing company based
in Bozeman, Montana. It was founded in July 2012 and was publicly launched in
October 2014 after two years in stealth mode.[2][3] The company's name was chosen
as a tribute to the founders' love of winter sports.[4]
Snowflake offers a cloud-based data storage and analytics service, generally termed
"data warehouse-as-a-service".[5][6] It allows corporate users to store and analyze data
using cloud-based hardware and software. Snowflake runs on Amazon S3 since
2014,[2] on Microsoft Azure since 2018[7] and on the Google Cloud Platform since
2019.[8][9] The company is credited with reviving the data warehouse industry by
building and perfecting a cloud-based data platform. [10] It was able to
separate computer data storage from computing before Google, Amazon, and
Microsoft.[11]
The company is ranked first on the Forbes Cloud 100.[12]
History[edit]
Snowflake Inc. was founded in July 2012 in San Mateo, California by three data
warehousing experts: Benoit Dageville, Thierry Cruanes and Marcin Żukowski.
Dageville and Cruanes previously worked as data architects at Oracle Corporation;
Żukowski was a co-founder of the Dutch start-up Vectorwise. The company's first
CEO was Mike Speiser, a venture capitalist at Sutter Hill Ventures.[13]
In August 2012, it raised a $5 million Series A round led by Sutter Hill Ventures.[14]
In June 2014, the company appointed former Microsoft executive Bob Muglia as
CEO. In October 2014, it raised $26 million and came out of stealth mode, with 80
organizations using it at that time.[15] In June 2015, the company raised an additional
$45 million and launched its first product, its cloud data warehouse, to the public. [16][17]
[18][19]
It raised another $100 million in April 2017. [20][21]
In January 2018, the company announced a $263 million financing round at a $1.5
billion valuation, making it a unicorn.[22] In October 2018, it raised another $450 million
in a round led by Sequoia Capital, raising its valuation to $3.5 billion.[5][23]
In May 2019, Frank Slootman, the retired former CEO of ServiceNow, joined
Snowflake as its CEO and Michael Scarpelli, the former CFO of ServiceNow joined
the company as CFO.[8]
In June 2019, the company launched Snowflake Data Exchange. [24]
In September 2019, it was ranked first on LinkedIn's 2019 U.S. list of Top Startups.
[25]
On February 7, 2020 it raised another $479 million. At that time, it had 3,400 active
customers.[26]
On September 16, 2020, Snowflake became a public company via an initial public
offering raising $3.4 billion, the largest software IPO and the largest IPO to date to
double on its first day of trading. .[27][28][29][30][31]
On May 26, 2021, the company announced that it would become headquarterless,
with a principal executive office located in Bozeman, Montana. [32]
References[edit]
1. ^ "Snowflake Reports Financial Results for the Fourth Quarter and Full Year of Fiscal
2021". Business Wire. March 3, 2021.
2. ^ Jump up to:a b Handy, Alex (October 23, 2014). "Snowflake offers cloud data warehouse as
a service, cheaply". SD Times.
3. ^ Wingfield, Nick (October 21, 2014). "Longtime Microsoft Executive Opens Cloud
Database Start-Up". The New York Times.
4. ^ Clancy, Heather (October 21, 2014). "Can these Oracle and Microsoft veterans reinvent
the data warehouse?". Fortune.
5. ^ Jump up to:a b Dignan, Larry (October 22, 2018). "Snowflake raises $450 million in another
VC round, valued at $3.5 billion". ZDNet.
6. ^ Bass, Dina (October 21, 2014). "Snowflake Takes Aim at Amazon, Hadoop With New
Data Service". Bloomberg News.
7. ^ Brust, Andrew (July 12, 2018). "Snowflake's cloud data warehouse comes to Microsoft
Azure". ZDNet.
8. ^ Jump up to:a b Taulli, Tom (June 5, 2019). "Snowflake: The AI Force Multiplier". Forbes.
9. ^ Ichhpurani, Kevin (June 4, 2019). "Announcing Snowflake on Google Cloud
Platform". Google Cloud Platform.
10. ^ Sloan, Molly (October 28, 2020). "How Snowflake Became a $70 Billion Company with
the Largest Software IPO in History". Drift.com.
11. ^ Gabriele, Mario (September 23, 2020). "Demystifying Snowflake: The Biggest Software
IPO in History". Medium.
12. ^ Brier, Elisabeth; Cai, Kenrick; Jeans, David; Melton, Monica (September 16, 2020).
Konrad, Alex (ed.). "The Cloud 100 2019". Forbes.
13. ^ Anders, George (September 4, 2019). "You're never too old to excel: How Snowflake
thrives with 'dinosaur' cofounders and a 60-year-old CEO". LinkedIn.
14. ^ Kunthara, Sophia (February 10, 2020). "Snowflake Gets $479M, Reaches Decacorn
Status With $12.4 Valuation". Crunchbase.
15. ^ Vanian, Jonathan (October 21, 2014). "With $26M, Snowflake Computing is hoping its
take on data warehousing will hit the mainstream". Gigaom.
16. ^ Vanian, Jonathan (June 23, 2015). "This big data startup is as unique as a
snowflake". Fortune.
17. ^ Hesseldahl, Arik (June 23, 2015). "Big Data Startup Snowflake Raises $45 Million,
Launches First Product". Vox Media.
18. ^ Brust, Andrew (June 26, 2015). "Cloud data warehouse race heats up". ZDNet.
19. ^ Darfler, Benjamin (July 28, 2015). "Snowflake Announces General Availability of their
Cloud Data Warehouse Offering". InfoQ.
20. ^ Dignan, Larry (April 5, 2017). "Snowflake Computing raises $100 million to expand
cloud data warehouse footprint". ZDNet.
21. ^ Magistretti, Bérénice; Novet, Jordan (April 5, 2017). "Cloud data warehouse startup
Snowflake raises $100 million led by Iconiq". VentureBeat.
22. ^ Miller, Ron (January 25, 2018). "Snowflake lands massive $263 million investment on
unicorn valuation". TechCrunch.
23. ^ Krazit, Tom (October 11, 2018). "With huge new $450M funding round, Snowflake
Computing has now raised almost $1 billion". GeekWire.
24. ^ "Snowflake Announces Data Exchange to Break Down Data Barriers" (Press
release). PR Newswire. Snowflake Inc. June 4, 2019.
25. ^ Hempel, Jessi (September 4, 2019). "LinkedIn Top Startups 2019: The 50 hottest U.S.
companies to work for now". LinkedIn.
26. ^ Miller, Ron (February 9, 2020). "After $479M round on $12.4B valuation, Snowflake
CEO says IPO is next step".
27. ^ Driebusch, Corrie (September 16, 2020). "Snowflake's Stock Price Soars in IPO". The
Wall Street Journal.
28. ^ La Monica, Paul R. (September 16, 2020). "Snowflake shares more than double. It's the
biggest software IPO ever". CNN.
29. ^ Bary, Emily (September 16, 2020). "Snowflake IPO surge makes it the priciest tech
stock by a mile". MarketWatch.
30. ^ Zara, Christopher (September 16, 2020). "Snowflake, JFrog IPO: Software stocks soar
in market debut". Fast Company.
31. ^ Pressman, Aaron (September 16, 2020). "Snowflake CEO: Doubling of stock price after
IPO reflects 'frothy' market". Fortune.
32. ^ "Snowflake Reports Financial Results for the First Quarter of Fiscal 2022" (Press
release). Snowflake Inc. May 26, 2021.
