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Snowflake’s IPO: The Details You Need To Know

Cloud data platform provider Snowflake filed an S-1 document with the U.S. Securities and Exchange Commission this week, providing information about the company’s financial performance, ownership and go-to-market plans in advance of its much-anticipated IPO. Here’s a deep dive into the details.

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Key Statistics

For all of fiscal 2020 (ended Jan. 31) Snowflake recorded revenue of $264.7 million, up 174 percent from $96.7 million in fiscal 2019.

For the first six months (ended July 31, 2020) of fiscal 2021 Snowflake reported revenue of $242.0 million, up 133 percent from $104.0 million in the first half of fiscal 2020.

As of July 31, 2020, Snowflake had 2,392 customers with Capital One the company’s single biggest customer.

As of July 31, 2020, Snowflake had 2,037 employees in 19 countries.

Taking Ownership

The S-1 disclosed the “beneficial owners” of Snowflake – the company’s current stakeholders. Sutter Hill Ventures is the biggest owner with a 20.3 percent stake followed by Altimeter Partners Fund (14.8 percent), ICONIQ Strategic Partners (13.8 percent), Redpoint Ventures (9.0 percent) and Sequoia Capital Growth Fund (8.4 percent).

Current CEO Frank Slootman (pictured) has a 5.9 percent stake while former CEO Robert Muglia, who left the company in April 2019, owns 3.3 percent.

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