Snowflake Files for IPO. Can it take on Microsoft and Amazon Cloud Services Businesses?

Gerd Altmann from Pixabay

 

Snowflake competitors are Amazon Web Services and Microsoft Azure. Snowflake (SNOW ) relies on Microsoft’s and Amazon to store data while competing wit them at the same time.

Snowflake, the cloud data platform, today announced that it publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of its Class A common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. Snowflake intends to list its Class A common stock on the New York Stock Exchange under the ticker symbol “SNOW”. Source : Snowflake

Snowflake’s cloud data platform supports a multi-cloud strategy, including a cross-cloud approach to mix and match clouds as you see fit. Snowflake is available globally on AWS, Azure and Google Cloud Platform. With a common and interchangeable code base, Snowflake delivers advantages such as global data replication, which means you can move your data to any cloud in any region, without having to re-code your applications or learn new skills. Source Snowflake

Frank Slootman currently serves as Chairman and CEO at Snowflake. Frank has over 25 years of experience as an entrepreneur and executive in the enterprise software industry. Mr. Slootman served as CEO and President of ServiceNow from 2011 to 2017, taking the organization from around $100M in revenue, through an IPO, to $1.4B. Source: Snowflake

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