Could Snowflake Rival Amazon in Cloud Storage and Services? Here’s What You Need to Know About the New So – Tech Times

Amazon could be in trouble as a new rival has come forth.Snowflake Incorporated, the California-based company found in 2012, has taken the lead in the market area dominated by Amazon.com Incorporated, the top provider of public cloud storage and services.

(Photo : Screenshot from Twitter post of @BrunoGazze)Snowflake Could Rival Amazon When It Comes to Cloud Storage and Services; How Good Is It?

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A regulatory filing stated that the software maker generated incredible revenue growth and customer loyalty. From $75 to $85, the company increased its IPO price range by up to $100 to $100 every share.

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The new price range could increase Snowflake's market value to $30 billion, which was previously only $12.5 billion. Snowflake's software gathers the data untidily sent across different systems so that businesses and companies could quickly analyze it all together.

The new product helps clients answer their queries about the internet's data to understand better how their businesses function, allowing them to make better decisions. According to the filing, Snowflake processes an average of 507 million customer queries every day.

Amazon helped businesses avoid running their own data centers by renting computing power, services, and storage. However, unlike Amazon, Analysts claimed that Snowflake's capabilities and flexibility make it more advanced than its competing data warehouse called Redshift, which is owned by Amazon Web Services.

(Photo : Screenshot from Twitter post of @SeifelCapital)Snowflake Could Rival Amazon When It Comes to Cloud Storage and Services; How Good Is It?

"It's a rapidly evolving competitive landscape," said Zane Chrane, Sanford C. Berstein's analyst.

"AWS Redshift probably has the largest cloud data warehouse, with the most customers and revenue, but it's the oldest," added the analyst.

Chrane also said that the new software is one of the most disruptive new vendors in the Cloud storage and services in the last few years. Snowflake also competes against Alphabet Incorporated's Google Cloud Platform and Microsoft Corp.

Chrane also said that the new software is one of the most disruptive new vendors in the Cloud storage and services in the last few years. Snowflake also competes against Alphabet Incorporated's Google Cloud Platform and Microsoft Corp.

Mandeep Singh, Bloomberg Intelligence's analyst, said that Wall Street is confident to partially value the company since Frank Slootman richly, Snowflake's CEO, could adequately handle a $70 billion market.

For more news updates about Snowflake or other new software, always keep your tabs open here at TechTimes.

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Written by:Giuliano de Leon.

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Could Snowflake Rival Amazon in Cloud Storage and Services? Here's What You Need to Know About the New So - Tech Times

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