- Cloud Wars
- Premium Content
- Cloud Revenue (as of 10/31/2022):$523M
- Cloud Services:PaaS,IaaS
- CEO:Frank Slootman
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SnowflakeSnowflake was founded in 2012 to be a new type of data-warehousing company, and in recent years it has become much more than that. While markedly smaller than every other company on the Cloud Wars Top 10—Snowflake will likely finish calendar 2021 with revenue of just over $1 billion, while the other 9 will have average cloud revenue for the year of $27 billion—Snowflake has triggered massive disruptions across the entire cloud industry. It has done so by creating a new paradigm—the data cloud—and using modern architecture to overcome many of the constraints that business users have faced in trying to unleash the full potential of their data. And the Snowflake wake of disruption has not been merely technological or theoretical: for its fiscal Q4 ending Jan. 31, Snowflake’s product revenue soared 117% to $178 million. On top of that, Snowflake’s RPO (remaining performance obligation) jumped an astonishing 213% in that same period, providing powerful evidence that there’s plenty of steep growth still to come. Among Snowflake’s various high-impact innovations are these three:
– taking a data-centric view to create a new type of cloud-native architecture;
– recognizing that the sharing of external data needs to be made as simple, safe and secure as the sharing of internal data; and
– adding a concerted and company-wide focus on vertical-industry specialization so it can help drive not only IT modernizations but also large-scale business transformations.