Welcome to the Cloud Wars Minute — your daily news and commentary show, hosted by Cloud Wars Founder, Bob Evans. The next three minutes are packed with insights and perspectives around the “reimagination machine” that is the Cloud! Today’s Topic: Inside the Snowflake Q3 Revenue Blowout
Highlights
00:15 – In Snowflake’s most recent quarter, Q3, the company announced 110% growth in revenue, with product revenue now up to $312 million.
00:43 – The two big points that CEO Frank Slootman kept coming back to on the earnings call were “industry specialization” and “verticalization,” which are really just two ways of saying the same thing.
01:12 – The old way of doing things is fading, Slootman said. The most important thing today is having industry expertise so that you can help customers do things that they’ve never done before and compete in today’s digital economy.
01:39 – Slootman said that he wants Snowflake sales people to know customers’ business as well as the customers themselves know it. This is the only way to deliver the best possible service and products for them.
02:01 – During the earnings call, Slootman also referenced two new industry-specific clouds that Snowflake recently released: the Financial Services Data Cloud and the Media Data Cloud. In all likelihood, Snowflake will announce more clouds like these two soon.
