Snowflake Inc. - Statistics & Facts

Snowflake is a U.S. technology firm offering cloud data services. Snowflake’s core product is a unified cloud data platform that enables customers to easily access, analyze and share their data. Founded in 2012 and publicly launched in 2014, Snowflake has grown to become one of the world’s largest cloud vendors by revenue as of 2022. The company reported revenue of 1.2 billion U.S. dollars in the financial year ending January 31 2022, more than double that of the previous year, though has posted consecutive net losses since going public in 2020. Snowflake’s workforce has grown rapidly in recent years, with its July 2022 headcount of 4,991 representing a yearly personnel increase of around 53 percent.

The "data cloud"

Snowflake describes its platform as powering what it terms the “data cloud”. The term refers to an ecosystem in which organizations store and access single, live copies of their data, and can seamlessly share this data with other organizations on the cloud. Snowflake pitches its platform as a solution to the use of “silos” in data storage, wherein organizations store data in standalone data warehouses which can be difficult to access and in which data is often needlessly replicated. The Snowflake platform is intended to offer all necessary tools and services to work within the data cloud, including analytics, governance, and cybersecurity tools, and thus reduces the need for supplementary database software.

The Snowflake platform

Snowflake emphasizes flexibility and ease of use. The firm allows customers to access free and paid third-party data via a marketplace, as well as offer their own data for purchase. In addition, the firm offers the option of a usage-based payment model in which customers only pay for the storage and compute resources that they use. As of July 2022, 6,808 organizations used the Snowflake platform, 510 of which were listed on the Forbes Global 2000 index of the world’s largest companies.

IPO and public cloud

Snowflake attracted significant attention in the run-up to its September 2020 IPO, with backing from the CRM giant Salesforce as well as billionaire investor Warren Buffet. Snowflake’s value at IPO was 33.2 billion U.S. dollars, ranking it among the highest valued unicorn exits worldwide, while the firm’s share price had more than doubled to 254 U.S. dollars by the end of the first day of trading. In total, the Snowflake IPO raised 3.4 billion U.S. dollars. Though many analysts tipped Snowflake for long-term financial success amid its high-profile IPO, the firm faces significant competition in an increasingly congested cloud market. Microsoft leads the market by revenue, with cloud revenue of 23.4 billion U.S. dollars in the fourth fiscal quarter of 2022, followed by competing tech giant Amazon. Rather than launch its own private cloud, Snowflake has opted for increased integration by making its service available on the three major public cloud services operated by big tech: Amazon Web Services (AWS), Microsoft Azure and Google Cloud, thus maximizing its viability for organizations worldwide.

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In the following 3 chapters, you will quickly find the 23 most important statistics relating to "Snowflake Inc.".

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