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article imageHow Snowflake became a powerhouse in cloud computing. Special

By Tim Sandle     Oct 24, 2020 in Business
After producing the biggest IPO for a US software company, Snowflake has quickly become a powerhouse in cloud computing. But where does the company go from here? Next Pathway's Chetan Mathur provides an insight.
In September 2020, cloud company Snowflake saw its shares surge more than 111 percent in its market debut on the New York Stock Exchange on Wednesday, as CNBC reported. This wasthe largest ever software IPO. The key selling point, according to Forbes, was with Snowflake’s decoupled architecture, which allows for compute and storage to scale separately.
To gain an insight into the rise (and continuing rise) of Snowflake, Digital Journal spoke with Chetan Mathur, the CEO of Next Pathway, a partner of Snowflake.
Mathur thinks that Snowflake will double in revenue over the next 6 months and he outlines why he’s making such a bold statement.
According to Mathur this is : "In part because the cloud has delivered significant operational benefits. But moreover, Snowflake is proving to be a leader in the cloud data warehouse space. This combined with the necessity for businesses to move to a more agile, cost-effective platform that allows better, faster access to critical data is fueling the movement to Snowflake."
Mathur says it is all about the cloud, noting: "The movement to the cloud can easily be considered as one of the most revolutionary technological improvements of our time."
He moves on to explain his own involvement in the project: "In 2019 we were early partners of Snowflake, and we were involved in many proof-of-concepts (POC), whereby enterprise companies willingly offered us samples of their legacy code to see if/how we could translate the code to SnowSQL, Snowflake’s native language. Following these POCs and with the onset of the pandemic, over the past 8 months many of these companies are coming to us to migrate these data warehouses in their entirety to Snowflake."
Mathur was one of the first to recognize the potential: "In fact, this time last year I published a LinkedIn article announcing our partnership with Snowflake and why I was excited about working with Snowflake as a migration partner. Fast forward, 12 months later, and a great deal has changed. Snowflake sold 28 million shares on the day of its IPO, raising nearly $3.4 billion and securing it as the largest software IPO in history! Having been a technology entrepreneur for the past 30 years, there has never been a more interesting time in our industry. And the support around the Snowflake IPO just underscores this point. "
More about Snowflake, ipos, Economics, Cloud computing
 
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