Snowflake Computing hints at IPO plans with hire of former Talend CFO Thomas Tuchscherer

Thomas Tuchscherer, chief financial officer, Snowflake Computing. (Snowflake Photo)

After raising $473 million in funding over the last few years, Snowflake Computing announced Wednesday that it has hired Thomas Tuchscherer, who helped Talend through its 2016 initial public offering, as its new chief financial officer.

The cloud data warehouse company run by former Microsoft executive Bob Muglia is currently valued at $1.5 billion thanks to several rounds of financing, and in January Muglia told GeekWire that its latest round “should carry us to the point where we could ultimately IPO the company.” In a statement, Muglia said Tuchscherer “brings a combination of deep finance experience, strategic thinking and the proven ability to manage growth in the private and public markets” to Snowflake’s executive team.

A data warehouse is a specialized type of database that is designed to make queries of the data run as fast as possible, relegating the writing of data to the database as a lower priority. That’s a tradeoff that companies looking to run real-time data-analysis applications against a large pool of data are willing to make, and Snowflake’s cloud-native design on Amazon Web Services and Microsoft Azure has drawn interest from those also running workloads in the cloud.

Talend is a Snowflake partner that helps companies that want to integrate data across a variety of sources with their business processes. Its stock is up sharply over the last two years from an first-day closing price of $27.66, a substantial bump over its $18 opening price, on the Nasdaq.

Source: GeekWire

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