Summary List Placement
Cloud storage unicorn Snowflake is on the precipice of its highly anticipated IPO, expected to take place Wednesday. The company helps businesses manage their big data storage in the cloud and was last valued at $12.4 billion when it raised a $479 million round in February.
The buzz over its impending debut on the public market was amplified by recent news that Warren Buffett’s Berkshire Hathaway plans to plow about $570 million into its IPO.
Snowflake solves the problem of how to manage and analyze the vast quantities of information companies pour into popular clouds like AWS, Microsoft Azure, and Google Cloud. Founded in 2012, the startup came out of stealth in 2014 and quickly became a go-to solution.
One person frequently credited for Snowflake’s fast success is former CEO Bob Muglia. The industry vet spent 23 years at Microsoft under Bill Gates and Steve Ballmer before leaving for a two-year stint at Juniper. When he left that in 2014 and became Snowflake’s CEO, he was the 34th employee.
Under him the company experienced rapid growth but he surprised the industry when he left last year. He was replaced by another industry veteran, Frank Slootman (known for his time as the former CEO who took ServiceNow public). Slootman raised that final big round earlier this year, at that massive “decacorn” valuation (aka over $10 billion), and headed for an IPO.
With all this growth, it’s not surprising that Snowflake is hiring. So how much can you make working for Snowflake?
We can learn from looking at what Snowflake pays the workers it hires from overseas. Corporations have to disclose to the federal government how much they pay employees through the H-1B visa program, a major part of how Silicon Valley fills its offices. The Office of Foreign Labor Certification …read more
Source:: Business Insider