Snowflake Leaps to Unicorn Status

2018 is welcoming one of its newest tech unicorns: Snowflake Computing. After raising $263.5 million, the cloud company is fetching a $1.5 billion valuation. Bob Muglia, CEO of Snowflake Computing, a data storage company selling database software that operates in Amazon's cloud, was with us to share why he thinks the unicorn valuation is justified. Muglia said the valuation is justified, but the company still needs to grow into it. The new funding will put Snowflakes growth in line with Palantir and Slack. Muglia explained how the investment will help the company go up against Amazon, Microsoft, Oracle, and Google. With $473 million in total funding, Snowflake is planning an IPO. The CEO said the company could go public in 2-3 years. Current customers include Capital One, Adobe, Nielsen and Rent the Runway.

More In Business

Tiny Homes Equal Big Results. Here’s Why You Should Consider Investing In One

For most, buying a home is a far-reaching goal. With high mortgage rates and low inventory, this CEO wants you to consider investing in a tiny home.

From Happy Meals to Footlongs, Get Ready for More Celebrity Food Deals

As inflation-weary consumers cut back on dining out, brands like McDonald’s are relying more heavily on celebrity and influencer endorsements to move the needle

We Got Bad News and Good News: Weak Job Market, Better Stock Market

It was a lot harder than expected for the average worker to find a job in the past month. But that slowdown means long-promised rate cuts are coming.

April Jobs Report: Labor Market Cooling To A More Sustainable Pac

Gregory Daco, chief economist at EY breaks down April’s jobs report and what it means for the next few months

Big Business This Week: A 'Slow-Motion Murder' at Paramount, Tax Hikes (for the Rich) and is Walmart the New Whole Foods?

Plus, Starbucks reported its first quarter of declining sales and earnings since the pandemic, Biden tries to tackle the national debt and Warren Buffett is set to host the annual meeting of his investment firm Berkshire Hathaway.

What Does Marijuana Reclassification Mean, Anyway?

The U.S. could pot-tentially deem marijuana as a less dangerous drug.

Federal Reserve Announces Its Decision on Interest Rates

Powell announced that the Fed will keep the interest rate at their current level of 5.25-5.5 percent, their highest for nearly 20 years.

Worried About Summer Gas Prices? Buy Energy Stocks

You could turn pain at the pump into a financial bump if you buy the dip on energy stocks, one analyst says.

With High Mortgage Rates, Is It Time to Consider a Tiny Home?

For most, buying a home is a far-reaching goal. With high mortgage rates and low inventory, it may be time to get creative and consider a tiny home.

Florida’s 6-Week Abortion Ban Takes Effect

The rules are affecting not just women who want therapeutic abortions, but also nonviable pregnancies for women who want to have babies.

Load More