Snowflake Named Top-Tier Software Vendor by APPS RUN THE WORLD in the APPS and CLOUD TOP 500 Market Report

Snowflake Strengths, Domain Expertise, and Key Differentiators

Snowflake is transitioning towards a more distributed infrastructure model while concurrently facilitating the consolidation and analysis of enterprise data in a cohesive and standardized manner. This shift in the enterprise data landscape has spurred increased interest in Data Warehouse as a Service (DWaaS) offerings, exemplified by Snowflake's cloud service. The integration of disparate data sources, traditionally isolated in data silos, enables the perception of a unified data warehouse or data lake. Consequently, this methodology empowers organizations to harness a more extensive range of enterprise data for comprehensive production data analysis. The result is a more rapid and agile generation of meaningful insights for business outcomes, surpassing the efficiency of legacy data warehouse solutions.

Snowflake Recent Developments

Snowflake is a cloud-based data warehouse service (DWaaS) that supports database access via the SQL query language. The platform is designed to enable organizations to store and analyze vast amounts of data in a secure and efficient manner. Snowflake allows users to run powerful SQL queries on structured and semi-structured data, facilitating data-driven decision-making. This combines traditional SQL language queries with new semi-structured database resources, speeding data analytics and time-to-results. A young company, Snowflake has ambitions to grow from $554 million in annual revenue to $10 billion in a few years.

Snowflake Mergers and Acquisitions (M&A) Activities

Snowflake empowers clients to efficiently store and oversee substantial volumes of data in the cloud while avoiding vendor lock-in. Streamlit, a startup recognized for its widely adopted open-source project facilitating the creation of data-driven applications, aligns seamlessly with Snowflake's objectives. Today, Snowflake has officially disclosed its acquisition of Streamlit for a noteworthy sum of $800 million.

In 2020, Snowflake executed the acquisition of Cryptonumerics, a strategic move valued at slightly over $7 million. Notably, Snowflake, itself, has been a subject of acquisition interest on multiple occasions.

In the fiscal year concluding on January 31, 2021, Snowflake extended its acquisition strategy by procuring specific assets from a privately-held entity, amounting to $7.1 million in cash. This transaction was treated as a business combination, with an allocation of the purchase price, resulting in $5.7 million designated as a developed technology intangible asset (amortizable over a projected useful life of five years) and $1.4 million as goodwill, which holds income tax deductibility. Additionally, during the fiscal year concluding on January 31, 2020, Snowflake completed acquisitions of two privately-held companies, totaling $13.3 million in cash and equity. The breakdown of the purchase price allocation included $5.6 million for developed technology intangible assets (amortized over estimated useful lives of five years), $1.1 million for net assets acquired, $0.5 million for a deferred tax liability, $0.1 million for a customer relationships intangible asset, and $7.0 million for goodwill, not eligible for income tax deductions. The surplus of the purchase consideration over the fair value of net tangible and identifiable assets acquired was designated as goodwill. Snowflake asserts that the recorded goodwill balances from these acquisitions reflect the anticipated synergies resulting from integrating acquired technologies with the company's offerings and expanding market opportunities

Snowflake Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Snowflake applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Snowflake and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Snowflake Platform customers.

Snowflake Key Enterprise and Cloud Applications

Snowflake Platform

Snowflake Revenues, $M:

Snowflake Revenue Breakdown By Type, $M:

Snowflake Enterprise Applications Revenues By Functional Markets, $M:

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Snowflake Direct vs Indirect sales

Snowflake Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified Snowflake Customers

No. of Snowflake Customers: 7828

No. of Snowflake Enterprise Applications Customers: 7828

No. of Snowflake Cloud Customers: 7828

No. of Snowflake Cloud Subscribers: x

As of 2022, the Snowflake platform boasts global adoption, serving a diverse range of industries and organizations. The total number of customers has surged significantly to 7,828 marking substantial growth from 2,392 customers in 2020.

The platform's success is further underscored by a robust net revenue retention rate of 168% as of January 31, 2022. Notably, the number of customers generating over $1 million in trailing 12-month product revenue has increased from 41 to 77 between January 31, 2020, and January 31, 2022.

Snowflake's Data Cloud customer roster includes industry leaders such as Allianz, Anthem Health Services, DoorDash, JetBlue, Kraft/Heinz, McKesson, and Western Union. These entities reflect a broader trend of consolidating databases for advanced analytics.

Crucially, a significant portion of Snowflake's large customers in 2022 follows multi-cloud strategies, aligning with the prevailing industry shift away from legacy data silos, both on-premises and off-premises. This strategic alignment positions Snowflake as a pivotal player in modern data management and analytics solutions for enterprises navigating the complexities of cloud adoption and digital transformation.

Snowflake Market Opportunities, M&A and Geo Expansions

In September 2020, Snowflake successfully conducted its initial public offering (IPO), issuing and selling 32,200,000 shares of Class A common stock at $120.00 per share, which included an additional 4,200,000 shares from the exercise of the underwriters' option. The net proceeds amounted to $3.7 billion after accounting for underwriting discounts. On March 1, 2021, all outstanding shares of Class B common stock were automatically converted into an equivalent number of Class A common stock shares in accordance with the terms outlined in the amended and restated certificate of incorporation.

Capitalizing on enterprises' endeavors to eliminate legacy data silos and streamline data for enhanced analytics, Snowflake is strategically positioned for substantial growth. Its widespread adoption by numerous large and notable companies, coupled with consistent double-digit year-over-year revenue growth, underscores its potential for continued success in the evolving landscape of data management and analytics.

Snowflake Risks and Challenges

The competitive landscape within this market segment is intensifying.. Snowflake, which went public via an IPO in 2020, contends with rival cloud-based data warehouse solutions, such as those offered by Redis Labs, AWS, Cloudian, and Teradata. Notably, Snowflake's multi-cloud strategy places it in a dynamic position of co-opetition with major cloud service providers (CSPs) like AWS, Microsoft Azure, and Google Cloud Platform. While these CSPs are strategic partners for cloud services, each of them also provides its own Data Warehouse as a Service (DWaaS) offerings, further accentuating the complex competitive dynamics.

Snowflake Ecosystem, Partners, Resellers and SI

Snowflake operates a global partner program encompassing over 50 companies worldwide. This program is structured into distinct categories, comprising cloud partners, services partners, technology partners, and data providers.

Snowflake Cloud Infrastructure Insights

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• Snowflake Public Cloud and Infrastructure (IaaS)
• Snowflake Platform (PaaS)
• Snowflake Application Delivery
• Snowflake Private Cloud and Data Centers

Research Methodology

Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.

Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).

For additional information on our methodologies, here's the link: