Here's How Snowflake Is Sustaining Revenue Growth by Tripling Its Market Opportunity
Data company Snowflake (NYSE: SNOW) went public in September 2020. At the time, management said it had a market opportunity of $81 billion. But nowadays, just 2.5 years later, management says its market opportunity is $248 billion.
The story of how Snowflake's market opportunity tripled in under three years is worthy of investors' attention. It shows how the company can sustain mind-blowing revenue growth and why this is a great business.
Snowflake is trying to solve the "data-silo" problem. In traditional infrastructure, parts of enterprise data are isolated from the rest of the business, prohibiting broad insights and collaboration. Therefore, Snowflake came to market with its Cloud Data Platform, providing a way to onboard and store enterprise data all in one place.
Source Fool.com