INSUBCONTINENT EXCLUSIVE:
On Friday night word leaked out about its latest mega round
This one was for $479 million on a $12.4 billion valuation
finance event is likely an IPO.Dragoneer Investment Group led the round along with new investor Salesforce Ventures
Existing Snowflake investors Altimeter Capital, ICONIQ Capital, Madrona Venture Group, Redpoint Ventures, Sequoia, and Sutter Hill Ventures
The new round brings the total raised to over $1.4 billion, according to PitchBook data.All of this investment begs the question when this
As you might expect, Slootman is keeping his cards close to the vest, but he acknowledges that is the next logical step for his
is probably early- to mid-summer timeframe
he said.He grants that the pressure is about allowing employees to get their equity out of the company, which can only happen once the
easily accessed inside Snowflake
and Google Cloud Platform, and has a broad content strategy to have as much quality data (like Salesforce) on the platform
Slootman says that this helps induce a network effect, while helping move data easily between major cloud platforms, a big concern as more
So content strategy induces network effect which in turn causes more people, more data to land on the platform, and that serves our business
off our previous fiscal year which ended last Friday, and our revenue grew at 174%
3400 active customers, which he defines as customers who were actively using the platform in the last month
He says that they have added 500 new customers alone in the last quarter.
