Snowflake is largest software IPO ever

guest · Sep 17, 2020

Snowflake is largest software IPO ever
September 16, 2020
https://www.axios.com/snowflake-ipo-32d8ea90-d19f-46ce-b633-b6fb69a7aeec.html

Snowflake, a Silicon Valley cloud data warehousing company, on Tuesday night raised $3.4 billion in what is the largest software IPO ever.
Rocket ship: Snowflake raised venture capital in early 2018 at a $1.5 billion valuation, to help it compete in the red-hot business of helping companies move their legacy workloads into the cloud.
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Breaking down Snowflake's massive IPO
September 17, 2020
https://www.axios.com/snowflake-ipo-price-software-3ff675cf-b7c3-4548-8928-0a925bac11ea.html

Snowflake on Wednesday went public in the largest software IPO of all time, and then kept running like the Energizer Bunny on speed. By the time it was over, the company was worth over $80 billion.

Background: Snowflake was founded in 2012 to build data warehousing and analytics services for other businesses — audaciously seeking to both compete with Amazon while also building on top of it.
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Snowflake stock debut gives firm larger market cap than Dell, VMware

Shares in cloud data management company Snowflake began trading on the New York Stock Exchange Wednesday in what financial analysts said was the biggest software company IPO ever and the largest IPO so far of 2020.

Snowflake was founded in 2012 with an initial focus on providing cloud data warehouse services. More recently the company has broadened its potential market by defining itself as a cloud data platform company.
Snowflake and Salesforce have an extensive alliance that includes data integration tools and capabilities for moving Salesforce application data into the Snowflake platform for analysis and collaboration tasks.

“I think the public cloud companies are also sort of finding their footing and their bearing – certainly at lower levels of the organization sometimes the hostilities break out,” Slootman said during the CNBC interview when asked about potential competition from the cloud platform vendors and whether relying on them to provide Snowflake’s services was dangerous.
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EASTER · Sep 18, 2020

Care to throw some crumbs to the poor box?

Simply off the charts the value of tech these days

Rasheed187 · Sep 19, 2020

EASTER said: ↑

Care to throw some crumbs to the poor box? Simply off the charts the value of tech these days.
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It's truly ridiculous. It's a company that is still making huge losses, and already had quite a lot of private investors, they didn't really need the 3 billion dollar. But the reason why these companies are going public, is so that the management guys and top investors can become billionaires.

The CEO is some Dutch guy that has been only 2 years with the company and is now worth about 4 billion dollars, not because of his salary but purely because of his shares in the company. This madness needs to stop, enough is enough.

guest · Sep 20, 2020

Snowflake’s Record $33 Billion IPO Puts Data Back in the Spotlight
September 16, 2020
https://www.cbronline.com/news/what-is-snowflake-ipo

Snowflake, the cloud data platform, will start trading on the NYSE today under the ticker symbol “SNOW” after the largest software IPO in the exchange’s history — Snowflake has successfully placed 28 million shares at $120.00 per share, raising it some $3.4 billion at a valuation of over $33 billion.
What is Snowflake though?
So what is Snowflake exactly? In short, the company’s offering comprises three independently scalable layers across storage, compute, and cloud services.

The first ingests structured and semi-structured data to create a unified data record.
The second provides dedicated resources (via the cloud) to let users simultaneously access common data sets for many use cases without latency. The third optimises each use case’s performance requirements without administration.
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Among the major UK-based customers it has won is supermarket chain Sainsbury’s — whose CDIO Helen Hunt told an audience in late 2019 that it was using the data platform to democratise data use across the business.
The company has also successfully poached customers from AWS, including sports app Strava, which took its 120 TB data warehouse off AWS’s Redshift in early 2019, in favour of snowflake.

The IPO puts even Facebook’s massively hyped NASDAQ listing in 2012 into the rear view mirror (Facebook raised just over $16 billion at the time) and emphasises the potential the market sees in companies offering the ability to help peers make use of their data — as the cliche has it, widely dubbed the “new oil”.
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Snowflake says it serves 500+ million daily queries to a customer base of over 3,000.
Among the risks the company notes in its IPO filing, however, are its reliance on the cloud hyperscalers for infrastructure:

“Our platform currently operates on public cloud infrastructure provided by AWS, Azure, and GCP, and our costs and gross margins are significantly influenced by the prices we are able to negotiate with these public cloud providers, which in certain cases are also our competitors.”
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guest · Oct 3, 2020

Snowflake data warehouse platform: A cheat sheet
The Snowflake platform offers all the tools necessary to store, retrieve, analyze, and process data from a single readily accessible and scalable system
October 2, 2020
https://www.techrepublic.com/article/snowflake-a-cheat-sheet/

The digitization of the modern business enterprise has created a seemingly never-ending stream of raw data. Gleaning actionable nuggets of information from terabytes upon terabytes of data requires systems that can store, retrieve, and process data quickly and efficiently. One of the most common of these systems is called a data warehouse.

Data warehouses are central repositories of integrated data obtained from one or more disparate sources. These systems store current and historical data in one single place, which can then be retrieved for the development of analytical reports and other actionable information for employees throughout an enterprise.
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What is Snowflake Inc.?
Snowflake Inc. was founded in Silicon Valley by Benoit Dageville and Thierry Cruanes. They developed the Snowflake data cloud platform to serve as a tool to harness the power of business-generated data, which was often under-used in the past.

The Snowflake platform offers all the tools necessary to store, retrieve, analyze, and process data from a single readily accessible and scalable system. Snowflake concentrates on data accessibility through queries, high-volume capacity for many users, and no-maintenance automated scalability.
Snowflake's data warehouse platform is now serving more than 3,000 customers, varying in size from small businesses of fewer than 50 to Fortune 500 companies employing thousands.
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Who are Snowflake's competitors?
With data playing such a pivotal role in business intelligence, competition analysis, and strategic decision making, it is no wonder that the Snowflake has many powerful competitors. Huge multinational companies like Microsoft, Amazon, Google (Alphabet), SAP, Oracle, and IBM all have cloud-based data warehouse platforms that compete directly with Snowflake.
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paulderdash · Oct 4, 2020

EASTER said: ↑

Simply off the charts the value of tech these days
Click to expand...

Rasheed187 said: ↑

It's truly ridiculous. It's a company that is still making huge losses ...
But the reason why these companies are going public, is so that the management guys and top investors can become billionaires.
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Yeah, there must be HUGE value in Snowflake that hasn't been spotted and cornered already by incidentals like Microsoft, Amazon, Google (Alphabet), SAP, Oracle, and IBM.

The name could be an omen?

Rasheed187 · Oct 4, 2020

paulderdash said: ↑

Yeah, there must be HUGE value in Snowflake that hasn't been spotted and cornered already by incidentals like Microsoft, Amazon, Google (Alphabet), SAP, Oracle, and IBM.
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Yes it's ridiculous as if we didn't already have enough companies that are focused on the cloud. But apparently Snowflake has got a unique selling point, but don't ask me what that is.

longshots · Oct 4, 2020

Rasheed187 said: ↑

Snowflake has got a unique selling point
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Must be the free steak knives

hawki · Dec 4, 2020

FYI:

"Snowflake CEO Collects a $95 Million Payout — Every Month...

The CEO of the software company Snowflake is currently on a compensation package that's netting him $95 million in stock options every single month..."

https://www.bloomberg.com/news/arti...-ceo-collects-a-95-million-payout-every-month

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