Unless you live under a rock, you must have heard that Snowflake is set to be worth over $12 billion after the new funding.
This makes it one of the most valuable startups in the tech industry.
How did it happen, and how come nobody seen it coming?
Since Scaleo is also a startup in the tech industry, and we run a cloud-based affiliate marketing software solution, we always look at our fellow developers’ success in other branches of the market. And what do we see?
Snowflake, a data company that operates in the booming cloud computing market, is set to become one of tech’s most valuable private companies globally.
How much is Snowflake worth?
According to Forbes, Snowflake is raising new funding at a valuation of $12.4 billion.
The funding round, which is deemed to raise $479 million, is supposed to be led by Dragoneer Investment Group with Salesforce’s support.
The new raise would more than triple Snowflake’s previous valuation of $3.95 billion.
Snowflake would also gain a dominant partner in strategic investor Salesforce, the customer relationship management giant, with a $165B market capitalization.
So far, Snowflake and Dragoneer declined to comment on the funding to the press. Soon after the publication, a Salesforce spokesperson verified the company was taking part as a co-lead in the financing round.
The funding comes as Snowflake has surfaced as one of the fastest-growing companies in the cloud industry, partnering and racing against key-players, such as Amazon, Googstry, and Microsoft.
In other words, Snowflake was only launched in 2012 and rose to the top of the mountain in just a few years, beating all its rivals in the process. The biggest question is, how did it happen?
How did Snowflake rose to fame?
As unbelievably as it may sound, it all goes back to the infamous COVID-19 pandemic. While coronavirus managed to wipe so many businesses up, it also created a breeding ground for many startups that worked around this global catastrophe.
This cloud data platform announced that Starschema, a data services and tech company, has listed a free-of-charge, public data set that works as a single reference of truth on the mortality rate of COVID-19 cases Snowflake’s free-to-join marketplace, the Snowflake Data Exchange.
This data will help businesses assess emergency plans and make educated, data-driven decisions in real-time as they react to the global health crisis.
Snowflake & Starschema
Snowflake’s cloud data platform allowed Starschema to accumulate the epidemiological data from various sources into a cohesive “single source of truth,” while also providing for the enhancement of that data with essential information like population densities and geolocation.
The new Starschema data set also reduces the necessity and challenges associated with cleaning and serving the data.
Both public and private sector data users will have access to this data in an easy-to-use, analytics-ready form, so they can instantly create new models and apps.
The Snowflake Data Exchange, a robust platform for sharing and transferring data, allows Starschema to quickly and smoothly share data on COVID-19 in real-time with companies in the public and private sectors.
Businesses and companies can connect to the Data Exchange from their Snowflake account for seamless integration of the coronavirus occurrence data set and high-speed query processing.
With the Starschema’s coronavirus incidence data set, public health experts have access to phylogenetic case studies to reference and recognize whether specific strains of COVID-19 bear more substantial risk.
State authorities will also be able to make educated data-driven resolutions for public contingency preparation based on data from neighboring locations.
“Everyone is dealing with the effects of COVID-19 in one way or another. Our goal is to deliver the highest quality data sound enough to stake lives on, with the utmost transparency. Snowflake helps us deliver on that goal, so public health professionals, contingency planners, and enterprises can best respond to this global epidemic.”Starschema CTO, Tamas Foldi
Companies can use this data to help business emergency operations in the private sector and examine supply chains for potential vulnerabilities.
While Starschema plans to further enhance their coronavirus occurrence data set on the Snowflake Data Exchange, we wonder, if Snowflake will continue to take off as an industry leader.
“As the COVID-19 pandemic progresses, we can expect data to play an increasingly important role in both public and private operations. It’s essential organizations have access to accurate, near real-time data in this rapidly evolving environment. We’re humbled that the platform architecture is uniquely positioned to help democratize access to Starschema’s data in this time of need.”Snowflake’s Head of Data Exchange, Matt Glickman
Snowflake on the background of Coronavirus
With coronavirus still being a threat, data such as regional contingency measures, demographic news for the affected locations, and further reporting from districts, states, and country resources becomes invaluable.
You can also request access to the free, public Starschema COVID-19 incidence data set on the Snowflake Data Exchange here.
We will always wonder if Snowflake would have risen so high if it wasn’t for the coronavirus global pandemic. On the other hand, every startup developer looks up to his colleagues, and Snowflake’s case study is definitely nothing but inspiring.
Affiliate Marketing at the rise of Snowflake
While the affiliate marketing industry will not be directly affected by the rise (or fall) of this cloud-based new data giant, it certainly opens up a lot of new opportunities. Just imagine how many businesses will pop up thanks to the integration of the coronavirus data with Snowflake.
Perhaps we will have apps that tell us where it’s safe to go shopping and integrate the affiliate marketing policy into the background. We may have even further tailored ads. Or we will have tailored vacation destinations. The possibilities are endless, and we are very much curious to see what’s coming up next in the tech world.