Snowflake data turns into an avalanche as startup hits jumbo-unicorn status
Cloud computing startup Snowflake ($SNOWFLAKE) more than tripled its valuation in a jumbo funding round from venture backers and Salesforce ($NASDAQ:CRM), and its valuation rose to more than $12 billion, Forbes recently reported.
The funding deal is the latest sign that venture capital investors aren't backing away from successful companies - despite some high-profile failures - and perhaps a sign Snowflake is ready to hold off on an IPO, at least in the near-term.
Alternative data reflects virtually across-the-board growth for Snowflake. The California-based startup grew job postings from November 1 nearly 43% until earlier this month - and that was before the funding round was announced.
The Forbes report says Snowflake reeled in nearly $500 million in funding - so don't expect headcount to start to slide, anytime soon. Via LinkedIn ($NASDAQ:MSFT), employee headcount at Snowflake is up about 33% since the beginning of June.
Facebook Likes are consistently rising for Snowflake - and for a cloud computing software company, its attention via the social network is downright impressive. Likes on Facebook ($NASDAQ:FB) rose 29% since early July.
Earlier this year, Snowflake was rumored to be a likely 2020 IPO candidate - and although there are offerings pricing this year, the mega-funding seems to indicate Snowflake could stay private a little while longer.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.