Snowflake.html
“Can a cloud-native data platform become the universal operating system for enterprise data, analytics, and AI workloads across all major clouds?”
Founded2012
HQSan Mateo, California, USA
Total raised$1.4B+ (pre-IPO)
Latest roundIPO (NYSE: SNOW), 2020
Valuation$12.4B (last private valuation, 2020)
IndustryHorizontal SaaS / Data Cloud
The story
Snowflake was founded as a cloud-native data warehouse, differentiating on elastic compute/storage separation and multi-cloud support. Over time it expanded into a broader 'Data Cloud' platform encompassing data sharing, marketplace, and analytics workloads. Its Snowflake Marketplace enables providers to monetize data products directly, with Snowflake acting as a marketplace facilitator for billing and tax remittance. Embedded finance products are not core to Snowflake's business; instead, it relies on third-party vendors (e.g., Avalara) to handle tax compliance for its marketplace transactions.
Last 12 months
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Product timeline
2012
Snowflake founded as a cloud data warehousing company.· pivot
2014
Raised Series B led by Redpoint Ventures.· banking
2020
Filed S-1 and went public on NYSE under ticker SNOW, raising significant capital; last private valuation was $12.4B.· ipo
The stack
Accounting
Accounting gap: minor