IPO Contender Snowflake on Pace for $400 Million in 2020 Revenue

If Snowflake goes public this year, as many watchers of the subscription software company expect, its soaring revenue will be a big reason why. 

The Information has learned that the company—which offers a type of cloud database known as a data warehouse—is on track to hit $400 million in revenue in 2020, if current sales trends continue, according to two people with knowledge of its finances. Snowflake CEO Frank Slootman has previously said the company’s sales were “well over $100 million” in 2019. According to one of the people, 2019 sales approached $200 million, suggesting Snowflake is on pace to more than double its revenue this year.