Snowflake, the $100 billion-data cloud platform darling, yesterday confirmed plans to acquired database startup Crunchy Data for about $250 million. This strategic move aims to enhance Snowflake’s capabilities in data management and analytics, allowing clients to simplify the process of moving data into the platform. We are really just getting this technology to help advance our practice. This change benefits companies by making it easier to quickly run queries on a wider pool of data.
The announcement comes on the heels of Snowflake’s stellar financial results. The company’s earnings release announced 25% year-over-year revenue growth, beating Wall Street’s expectations. This impressive quarterly beat has resulted in a steady climb in their shares that have risen nearly 36% year-to-date. Sridhar Ramaswamy, the CEO of Snowflake, emphasized the company’s commitment to innovation during his address at the Semafor World Economy Summit in Washington on April 25, 2025.
We’re building our customers the foundation they need to win in the upcoming world of agentic AI,” remarked Ramaswamy. He teased some big things to come. With these kinds of big wins, he promised, “We’re riding high on this momentum, and you’ll be hearing much more from us in just a few weeks!
As an indication of its stature, among our Snowflake customer references are Kyndryl, Thales, UPS and the U.S. Department of Homeland Security. These partnerships are a testament to the faith shown in Snowflake’s technology and its capability to provide powerful data solutions. The competition for the data cloud is fierce right now. Just yesterday, competitor Databricks unveiled its intent to acquire Neon for around $1 billion.
In addition to the acquisition news, Christian Kleinerman, Executive Vice President of Product at Snowflake, discussed the new service aimed at simplifying data integration for clients. This library service gives users the tools to query smarter, query sharper. When provided access to this expanded dataset, it dramatically improves their operational capacity.
Stifel analysts have drawn parallels between Snowflake’s performance and top-tier golfer Scottie Scheffler, suggesting that it has achieved a “Scheffler Like Quarter & Guide.” This analogy speaks to Snowflake’s unique positioning in the market and its long-term growth opportunity.