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.
The former chief executive of Japanese beverage giant Suntory has acknowledged he was investigated on suspicion of possessing an illegal drug but has asserted his innocence despite resigning from his position.
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Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
