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Cloud computing infrastructure unicorn: Snowflake Inc. (SNOW)

Snowflake Inc. (NYSE:SNOW) was founded in 2012 and is headquartered in San Mateo, California, with 2037 full-time employees. It is a cloud computing startup that provides cloud-based data warehouse SaaS services (known as DaaS, Datawarehouse-as- a-Service), the company’s software allows users to analyze data across multiple cloud platforms.

Snowflake Inc

Snowflake Inc. (SNOW) US stock encyclopedia:

Snowflake Inc. is a cloud-based data warehouse start-up company founded in 2012. It has raised more than $1.4 billion in venture capital and is headquartered in San Mateo, California. It was publicly released by Bob Muglia in 2014.

Snowflake provides cloud-based data storage and analysis services, commonly referred to as “data warehouse-as-a-service.” Snowflake allows business users to use cloud-based hardware and software to store and analyze data. Snowflake has been running on Amazon S3 since 2014 and has been running on Microsoft Azure since 2018 . Launched on Google Cloud Platform in 2019 . Its Snowflake data exchange allows customers to discover, exchange and securely share data.

Although both are cloud service providers, Snowflake is different from the traditional three types of cloud services. It spontaneously proposes the concept of DaaS and provides SaaS services based on cloud-based data warehouses. In the face of traditional data warehouse system architectures that are prone to collapse, difficult to migrate data, and difficult to read and write at high frequencies, Snowflake perfectly solves this problem through the technology of separating storage and computing.

Unlike traditional cloud providers such as Oracle , Snowflake abandons the traditional data warehouse architecture, completely separates storage and computing, and becomes the mainstream of future data warehouse development. Snowflake competes with large companies such as Azure and AWS. However, due to the many differences in services and technology, large companies such as Microsoft maintain a cooperative relationship with Snowflake when pushing their own services.

Therefore, Snowflake, as a cloud service provider in the new era, has an absolute right to speak in technological innovation. Therefore, although AWS, Azure, Google Cloud, etc. are all competitors with it, they are also inseparable from cooperation with it. In fact, Snowflake’s biggest partner is Amazon AWS.

Snowflake is now valued at up to $12.7 billion, and the most recent round of financing (see below) was led by Dragoneer Investment Group and Salesforce Ventures, with a total of more than $1.4 billion.

Snowflake Inc. (SNOW) financing encyclopedia:

  • On February 1, 2012, in the seed round, Snowflake received $900,000 in funding.
  • On August 1, 2012, in Series A financing, Snowflake received an exclusive investment of US$5 million from Sutter Hill Ventures.
  • On October 21, 2014, in the B round of financing, Snowflake received a lead investment from Redpoint and a $26 million investment from Sutter Hill Ventures and Wing Venture Capital.
  • On June 23, 2015, the C round of financing was led by Altimeter, followed by Redpoint, Sutter Hill Ventures and Wing Venture Capital. Snowflake received $79 million in funding.
  • On September 6, 2017, in the D round of financing, Snowflake received ICONIQ Capital’s lead investment, Redpoint, Sutter Hill Ventures, Wing Venture Capital, Madrona Venture Group and other six institutions to invest 105 million US dollars.
  • On January 25, 2018, in the E round of financing, Snowflake was led by Altimeter Capital, ICONIQ Capital and Sequoia Capital, and Human Capital followed up with a US$263 million investment.
  • On October 11, 2018, in the F round of financing, Snowflake was led by Sequoia Capital, and 7 institutions including Redpoint, Sutter Hill Ventures, Madrona Venture Group, Meritech Capital Partners and other 7 institutions participated in the investment of 450 million US dollars.
  • On February 7, 2020, in the G round of financing, Snowflake received Dragoneer Investment Group’s lead investment, and Salesforce Ventures and Meritech Capital Partners participated in a $479 million investment.
  • On September 8, 2020, Snowflake’s Tuesday prospectus showed that Buffett’s Berkshire Hathaway plans to invest more than US$550 million when Snowflake goes public, and Buffett has hardly participated in any IPO in the past.

Snowflake Inc. (SNOW) history:

  • Snowflake Inc. was founded in 2012 in San Mateo, California by three data warehouse experts (Benoit Dageville, Thierry Cruanes and Marcin Zukowski). Dageville and Cruanes previously worked as data architects at Oracle Corporation . Zukowski is the co-founder of Dutch startup Vectorwise. The company’s first CEO was Mike Speiser, a venture capitalist at Sutter Hill Ventures. The company’s name is to commemorate the founder’s love of skiing.
  • In June 2014, Snowflake exited the stealth mode in October shortly after appointing former Microsoft executive Bob Muglia (Bob Muglia) as CEO. Cloud data warehouses became generally available in June 2015, when 80 organizations were using it.
  • Snowflake was recognized as a “Cool Vendor” in Gartner ‘s Magic Quadrant and won the first place in the 2015 Strata + Hadoop World Entrepreneurship Competition. Snowflake ranked second in the Cloud 100 list of Forbes magazine in 2019, and first in LinkedIn ‘s list of the best American startups in 2019. As of February 9, 2020, Snowflake has 3,400 active customers, including Capital One , Rent the Runway and Adobe .
  • In May 2019, Frank Slootman joined Snowflake as the new CEO. Slootman said at a London press conference in October 2019 that Snowflake may conduct an initial public offering (IPO) as early as the summer of 2020, but many factors may change the timing.
  • In September 2019, Snowflake ranked second in the 2019 Forbes Top 100 Cloud List, which included the best private cloud companies in the world.

Snowflake Inc. (SNOW) investment:

Snowflake Inc. (NYSE:SNOW) plans to list on NASDAQ on 9/16/2020 IPO, issue price $75.00-$85.00, issue 28 million shares, raise 2.24 billion US dollars, Goldman Sachs/ Morgan Stanley/ JP Morgan / Allen & Company/ Citigroup underwriting, Credit Suisse/ Barclays/ Deutsche Bank Securities/ Mizuho Securities/ Truist/ BTIG/ Canaccord Genuity/ Capital One Securities/ Cowen/ DA Davidson/ JMP Securities/ Oppenheimer/ Piper Sandler/ Stifel/ Academy Securities/ Loop Joint Capital Markets/ Ramirez/ Siebert Williams Shank.

On the same day the listing of the company snowflake Company (SNOW) , Jay Frog Technology (FROG) , Outset Medical (OM) and Metacrine (the MTCR) .

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