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Snowflake Inc.

Topic: Company

 From HandWiki - Reading time: 8 min

Snowflake Inc.
TypePublic
  • NYSE: SNOW (Class A)
  • Russell 1000 component
FoundedJuly 23, 2012; 13 years ago (2012-07-23) in San Mateo, California, U.S.
Founders
  • Benoît Dageville
  • Thierry Cruanes
  • Marcin Żukowski
HeadquartersMenlo Park, California, U.S.
Key people
ServicesCloud data platform
RevenueIncrease US$4.68 billion (2026)
Negative increase US$−1.44 billion (2026)
Decrease US$−1.33 billion (2026)
Total assetsIncrease US$9.13 billion (2026)
Total equityDecrease US$1.92 billion (2026)
Number of employees
9,060 (2026)
Website{{{1}}}
Footnotes / references
Financials as of January 31, 2026.[1]
Snowflake booth

Snowflake Inc. is an American cloud-based data platform company founded in San Mateo, California, and headquartered in Menlo Park. It operates a platform that supports data analysis and simultaneous access to data sets with minimal latency.[1] It operates on Amazon Web Services, Microsoft Azure, and Google Cloud Platform.

History

Snowflake Inc. was founded in July 2012 in San Mateo, California, by Benoît Dageville, Thierry Cruanes, and Marcin Żukowski. Dageville and Cruanes previously worked as data architects at Oracle Corporation; Żukowski was a co-founder of Vectorwise. Mike Speiser, a venture capitalist at Sutter Hill Ventures, which provided early funding to the company, served as its first CEO.[2]

In June 2014, Bob Muglia, formerly of Microsoft, was named CEO. In October 2014, Snowflake came out of stealth mode; at that time, it was used by 80 organizations.[3][4]

Snowflake has run on Amazon Web Services since 2014,[5][6] on Microsoft Azure since 2018,[7] and on the Google Cloud Platform since 2019.[8]

In June 2015, Snowflake launched its first product, its cloud data warehouse.[9]

In May 2019, Frank Slootman, formerly CEO of ServiceNow, joined Snowflake as its CEO.[10]

In June 2019, the company launched Snowflake Data Exchange.[11]

In December 2020, the company added Knoema as a data provider in the Snowflake Data Marketplace.[12]

In May 2021, the company became a distributed company, with a principal executive office in Bozeman, Montana.[13]

On February 28, 2024, Frank Slootman retired as CEO and was replaced by Neeva's cofounder Sridhar Ramaswamy.[14]

In February 2026, Snowflake reported Q4 fiscal 2026 product revenue of $1.23 billion, up 30% year-over-year, with full-year product revenue reaching $4.72 billion. Remaining performance obligations totaled $9.77 billion, a 42% increase, reflecting strong demand for AI infrastructure. The company reported over 9,100 accounts using Snowflake AI features.[15]

Products

Snowflake develops and sells a cloud-based data platform known as the Data Cloud. The platform allows organizations to unify data warehousing, data lakes, data engineering, and data sharing into a single service. Snowflake runs on public cloud infrastructure such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP), and separates compute from storage for scalable, on-demand analytics.[16]

In 2020, Snowflake introduced Snowpark, a developer framework that enables writing data pipelines and business logic using Java, Scala, and Python directly within Snowflake.[17]

In 2021, Snowflake launched Unistore, a hybrid workload that combines transactional and analytical operations within the same platform, enabling real-time applications to be built directly on Snowflake.[18]

In 2023, the company introduced the Native App Framework, which allows developers to build, distribute, and monetize applications that run securely within a customer’s Snowflake account.[19]

Snowflake also provides services including Snowpipe for continuous data ingestion and the Snowflake Marketplace, where organizations can access and share live, query-ready datasets.[20]

In 2024, Snowflake launched Cortex, a set of generative AI services embedded into the platform. Cortex includes access to large language models, vector search, and model deployment capabilities, allowing users to build AI-powered applications using SQL or Python.[21] Recently, it has introduced Snowflake Intelligence.

Snowflake supports workloads such as machine learning, streaming analytics, business intelligence, and unstructured data processing, with integrations for tools like Tableau, Power BI, and Sigma Computing.[22]

Acquisitions

In October 2022, the company acquired a 5% stake in advanced TV advertising firm OpenAP.[23]

In May 2023, Snowflake agreed to acquire privacy-focused search startup, Neeva, for $185 million.[24][14]

In June 2025, Snowflake announced its acquisition of Crunchy Data, a provider of cloud-based PostgreSQL services and distributor of certified Postgres, for approximately $250 million.[25][26] Later that year, Snowflake relocated its headquarters back to California, in Menlo Park.[27]

In January 2026, Snowflake announced an agreement to acquire Observe, an AI-powered observability company.[28][29]

2024 data breach

In 2024, hundreds of customers of Snowflake were targeted as part of a mass customer data theft and extortion campaign by the ShinyHunters hacking group.[30][31][32][33] Data breaches affected Ticketmaster,[34] Advance Auto Parts,[35] Santander Bank, Neiman Marcus, LendingTree, AT&T, Pure Storage, and Bausch Health.[36] In May 2024, Snowflake collaborated with Mandiant in an investigation which found no evidence of Snowflake’s environment being breached but rather customer credentials being compromised.[37][38]

Two men were involved in the hacking conspiracy that were a part of the ShinyHunters hacking group. Connor Riley Moucka aka Waifu/Catist, 25, of Kitchener, Ontario, and John Erin Binns aka IRDev. Moucka was arrested on October 30, 2024; a Washington state court has issued an indictment on charges of conspiracy, computer fraud and abuse, extortion, and aggravated identity theft.[39][40][41]

Funding

In 2012, Snowflake raised $5 million in a Series A round. In October 2014, it raised $26 million.[3]

In June 2015, the company raised $45 million.[42][9][43] It raised $100 million in April 2017.[44][45]

In January 2018, the company raised $263 million at a $1.5 billion valuation, making it a unicorn.[46] In October of that same year, the company raised $450 million in a round led by Sequoia Capital, at a $3.5 billion valuation.[3][47]

On February 7, 2020, the company raised $479 million. The company went public in September via an initial public offering, raising $3.4 billion in one of the largest software IPOs and the largest to double on its first day of trading.[48][49][50][51][52]

See also

References

  1. ↑ 1.0 1.1 "US SEC: Form 10-K Snowflake, Inc.". U.S. Securities and Exchange Commission. March 20, 2026. https://www.sec.gov/Archives/edgar/data/1640147/000164014726000008/snow-20260131.htm. 
  2. ↑ Anders, George (September 4, 2019). "You're never too old to excel: How Snowflake thrives with 'dinosaur' cofounders and a 60-year-old CEO.". LinkedIn. https://www.linkedin.com/pulse/youre-never-too-old-excel-how-snowflake-thrives-dinosaur-anders. 
  3. ↑ 3.0 3.1 3.2 Dignan, Larry (October 22, 2018). "Snowflake raises $450 million in another VC round, valued at $3.5 billion". ZDNet. https://www.zdnet.com/article/snowflake-raises-450-million-in-another-vc-round-valued-at-3-5-billion/. 
  4. ↑ Bass, Dina (October 21, 2014). "Snowflake Takes Aim at Amazon, Hadoop With New Data Service". Bloomberg News. https://www.bloomberg.com/news/articles/2014-10-21/snowflake-takes-aim-at-amazon-hadoop-with-new-data-service. 
  5. ↑ Handy, Alex (October 23, 2014). "Snowflake offers cloud data warehouse as a service, cheaply". SD Times. https://sdtimes.com/amazon-web-services/snowflake-offers-cloud-data-warehouse-service-cheaply/. 
  6. ↑ Wingfield, Nick (October 21, 2014). "Longtime Microsoft Executive Opens Cloud Database Start-Up". The New York Times. https://archive.nytimes.com/bits.blogs.nytimes.com/2014/10/21/longtime-microsoft-executive-opens-cloud-database-start-up/. 
  7. ↑ Brust, Andrew (July 12, 2018). "Snowflake's cloud data warehouse comes to Microsoft Azure". ZDNet. https://www.zdnet.com/article/snowflakes-cloud-data-warehouse-comes-to-microsoft-azure/. 
  8. ↑ Ichhpurani, Kevin (June 4, 2019). "Announcing Snowflake on Google Cloud Platform". Google Cloud Platform (Press release).
  9. ↑ 9.0 9.1 Hesseldahl, Arik (June 23, 2015). "Big Data Startup Snowflake Raises $45 Million, Launches First Product". Vox Media. https://www.vox.com/2015/6/23/11563788/big-data-startup-snowflake-raises-45-million-launches-first-product. 
  10. ↑ Krazit, Tom (2019-05-01). "Snowflake Computing CEO Bob Muglia is out, replaced by former ServiceNow CEO Frank Slootman" (in en-US). https://www.geekwire.com/2019/snowflake-computing-ceo-bob-muglia-replaced-former-servicenow-ceo-frank-slootman/. 
  11. ↑ "Snowflake Announces Data Exchange to Break Down Data Barriers" (Press release). PR Newswire. June 4, 2019.
  12. ↑ Gogineni, Manasa (December 21, 2020). "Knoema announces acquisition by Eldridge and partnership with Snowflake". VentureBeat. https://venturebeat.com/business/knoema-announces-acquisition-by-eldridge-and-partnership-with-snowflake/. 
  13. ↑ Levy, Ari (May 26, 2021). "Snowflake relocates executive office from California to Bozeman, Montana, as company goes distributed". CNBC. https://www.cnbc.com/2021/05/26/snowflake-moves-executive-office-from-california-to-bozeman-montana.html. 
  14. ↑ 14.0 14.1 Vanian, Jonathan (February 28, 2024). "Snowflake says Frank Slootman is retiring as CEO; stock plunges 20%". CNBC. https://www.cnbc.com/2024/02/28/snowflake-says-frank-slootman-is-retiring-as-ceo-stock-plunges-20percent.html. 
  15. ↑ "Snowflake Reports Financial Results for the Fourth Quarter and Full-Year of Fiscal 2026". https://www.snowflake.com/en/news/press-releases/snowflake-reports-financial-results-for-the-fourth-quarter-and-full-year-of-fiscal-2026/. 
  16. ↑ "How Snowflake Works". https://www.snowflake.com/en/data-cloud/. 
  17. ↑ "Announcing Snowpark: Bringing Data Programmability to the Data Cloud". June 15, 2021. https://www.snowflake.com/blog/announcing-snowpark-developer-experience/. 
  18. ↑ "Snowflake introduces Unistore to combine OLTP and OLAP". June 15, 2021. https://www.zdnet.com/article/snowflake-looks-to-extend-data-cloud-with-transactional-workloads-unistore/. 
  19. ↑ "Build and Monetize Data Apps with the Snowflake Native App Framework". June 27, 2023. https://www.snowflake.com/blog/build-and-monetize-data-apps-native-app-framework/. 
  20. ↑ "Data Sharing and Marketplace". https://docs.snowflake.com/en/user-guide/data-marketplace-intro.html. 
  21. ↑ Sharma, Shubham (1 November 2023). "Snowflake unveils Cortex, a managed service to build LLM apps in the data cloud". https://venturebeat.com/ai/snowflake-unveils-cortex-a-managed-service-to-build-llm-apps-in-the-data-cloud. 
  22. ↑ "Snowflake Ecosystem". https://www.snowflake.com/en/partners/technology/. 
  23. ↑ Sharma, Shubham (October 17, 2022). "Snowflake acquires stake in OpenAP to set up data clean room for advertisers". VentureBeat. https://venturebeat.com/data-infrastructure/snowflake-acquires-stake-in-openap-to-set-up-data-clean-room-for-advertisers/. 
  24. ↑ Palmer, Annie (May 24, 2023). "Snowflake shares plunge 12% on guidance miss, acquisition of search startup Neeva". CNBC. https://www.cnbc.com/2023/05/24/snowflake-snow-earnings-q1-2024.html. 
  25. ↑ "Exclusive | Snowflake to Buy Crunchy Data for $250 Million" (in en-US). Wall Street Journal. 2025-06-02. ISSN 0099-9660. https://www.wsj.com/articles/snowflake-to-buy-crunchy-data-for-250-million-233543ab. 
  26. ↑ "Snowflake Undercuts Databricks with Crunchy Data Acquisition" (in en-US). 2025-06-03. https://aimresearch.co/ai-startups/snowflake-undercuts-databricks-with-crunchy-data-acquisition. 
  27. ↑ Nguyen, Kevin V. (2025-09-29). "Snowflake wanted in on the AI party. It signed the Bay Area’s largest lease to get in". The San Francisco Standard. https://sfstandard.com/2025/09/29/snowflake-menlo-park-artificial-intelligence/. 
  28. ↑ Pattanaik, Anwesha (2026-01-09). "Snowflake to acquire AI observability firm Observe" (in en-US). https://www.verdict.co.uk/snowflake-to-acquire-observe/. 
  29. ↑ Haranas, Mark (8 January 2026). "Snowflake CEO Confirms Observe Acquisition To Boost ‘Enterprisewide Observability’". https://www.crn.com/news/cloud/2026/snowflake-ceo-confirms-observe-acquisition-to-boost-enterprise-wide-observability. 
  30. ↑ "The Snowflake Attack May Be Turning Into One of the Largest Data Breaches Ever". WIRED. June 6, 2024. https://www.wired.com/story/snowflake-breach-advanced-auto-parts-lendingtree/. 
  31. ↑ Whittaker, Zach (June 5, 2024). "Hundreds of Snowflake customer passwords found online are linked to info-stealing malware". TechCrunch. https://techcrunch.com/2024/06/05/snowflake-customer-passwords-found-online-infostealing-malware/. 
  32. ↑ Gatlan, Sergiu (June 5, 2024). "Advance Auto Parts stolen data for sale after Snowflake attack". Bleeping Computer. https://www.bleepingcomputer.com/news/security/advance-auto-parts-stolen-data-for-sale-after-snowflake-attack/. 
  33. ↑ Culafi, Alexander (June 10, 2024). "Mandiant: 'Exposed credentials' led to Snowflake attacks". TechTarget. https://www.techtarget.com/searchsecurity/news/366588655/Mandiant-Exposed-credentials-led-to-Snowflake-attacks. 
  34. ↑ Whittaker, Zack (May 31, 2024). "Live Nation confirms Ticketmaster was hacked, says personal information stolen in data breach". TechCrunch. https://techcrunch.com/2024/05/31/live-nation-confirms-ticketmaster-was-hacked-says-personal-information-stolen-in-data-breach/. 
  35. ↑ Grieg, Jonathan (July 11, 2024). "Advance Auto Parts says more than 2 million impacted by data breach". Recorded Future. https://therecord.media/advance-auto-parts-data-breach-2million. 
  36. ↑ Cox, Joseph (July 30, 2024). "Hacker Breaches Pharma Giant Bausch Health, Wants to Extort DEA". 404 Media. https://www.404media.co/hacker-breaches-pharma-giant-bausch-health-wants-to-extort-dea/. 
  37. ↑ Alspach, Kyle. "Snowflake Customers Hit With ‘Significant’ Data Theft In Attacks: Mandiant". https://www.crn.com/news/security/2024/snowflake-customers-hit-with-significant-data-theft-in-attacks-mandiant. 
  38. ↑ "Alleged Snowflake hacker consents to extradition from Canada after US charges" (in en). https://therecord.media/alleged-snowflake-hacker-extradition-us. 
  39. ↑ Pender, Terry (November 29, 2024). "Accused Kitchener hacker unmasked after threatening woman online". https://www.therecord.com/news/waterloo-region/accused-kitchener-hacker-unmasked-after-threatening-woman-online/article_3501ea8b-1514-5524-8de6-f52e92c3e103.html. 
  40. ↑ "US indicts Snowflake hackers who extorted $2.5 million from 3 victims". https://www.bleepingcomputer.com/news/security/us-indicts-snowflake-hackers-who-extorted-25-million-from-3-victims/. 
  41. ↑ "Indictment". https://www.documentcloud.org/documents/25290989-snowflake-indc. 
  42. ↑ Vanian, Jonathan (June 23, 2015). "This big data startup is as unique as a snowflake". Fortune. https://fortune.com/2015/06/23/big-data-startup-snowflake/. 
  43. ↑ Brust, Andrew (June 26, 2015). "Cloud data warehouse race heats up". ZDNet. https://www.zdnet.com/article/cloud-data-warehouse-race-heats-up/. 
  44. ↑ Dignan, Larry (April 5, 2017). "Snowflake Computing raises $100 million to expand cloud data warehouse footprint". ZDNet. https://www.zdnet.com/article/snowflake-computing-raises-100-million-to-expand-cloud-data-warehouse-footprint/. 
  45. ↑ Magistretti, Bérénice; Novet, Jordan (April 5, 2017). "Cloud data warehouse startup Snowflake raises $100 million led by Iconiq". VentureBeat. https://venturebeat.com/2017/04/05/cloud-data-warehouse-startup-snowflake-raises-100-million-led-by-iconiq/. 
  46. ↑ Miller, Ron (January 25, 2018). "Snowflake lands massive $263 million investment on unicorn valuation". TechCrunch. https://techcrunch.com/2018/01/25/snowflake-lands-263-million-investment-on-unicorn-valuation/. 
  47. ↑ Krazit, Tom (October 11, 2018). "With huge new $450M funding round, Snowflake Computing has now raised almost $1 billion". GeekWire. https://www.geekwire.com/2018/huge-new-450m-funding-round-snowflake-computing-now-raised-almost-1-billion/. 
  48. ↑ Driebusch, Corrie (September 16, 2020). "Snowflake's Stock Price Soars in IPO". The Wall Street Journal. https://www.wsj.com/articles/snowflakes-shares-soar-in-ipo-11600275246. 
  49. ↑ Bary, Emily (September 16, 2020). "Snowflake IPO surge makes it the priciest tech stock by a mile". MarketWatch. https://www.marketwatch.com/story/snowflake-ipo-surge-makes-it-the-priciest-tech-stock-by-a-mile-11600294394. 
  50. ↑ Zara, Christopher (September 16, 2020). "Snowflake, JFrog IPO: Software stocks soar in market debut". Fast Company. https://www.fastcompany.com/90551402/its-snowing-on-the-nyse-and-raining-frogs-on-the-nasdaq. 
  51. ↑ Pressman, Aaron (September 16, 2020). "Snowflake CEO: Doubling of stock price after IPO reflects 'frothy' market". Fortune. https://fortune.com/2020/09/16/snowflake-ceo-doubling-of-stock-price-after-ipo-reflects-frothy-market/. 
  52. ↑ La Monica, Paul R. (September 16, 2020). "Snowflake Shares More than Double. It's the Biggest Software IPO Ever". CNN. https://www.cnn.com/2020/09/16/investing/snowflake-ipo/index.html. 



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