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Airbnb Profitable For Two Years Straight As It Heads For Public Markets

Airbnb today announced a number of milestones which include being profitable for a second year on an EBITDA (earnings before interest, taxes, depreciation and amortization) basis in 2018. This counts as a plus as the company heads for an IPO reported to be taking place this year.

It also says it's on track to hit 500 million guest arrivals on its platform by the end of Q1 this year. While specific figures are not provided, the company exceeded its 2017 projections with $93 million in profit on $2.6 billion in revenue, Bloomberg says with CEO Brian Chesky promising a public offering before 2020 when some employee stock grants expire.

This month, longtime Amazon executive Dave Stephenson joined the company as chief financial officer, a key role in preparation for an IPO after its previous CFO Laurence Tosi left last year amid a disagreement with Chesky.

“He (Dave Stephenson) will use his experience in growing large businesses quickly at scale to ensure we are investing for both gro…

Snowflake Computing gets $450 million round at $3.5 billion valuation

From Left to Right: Snowflake Cofounder Thierry Cruanes, Snowflake CEO Bob Muglia, Snowflake Cofounder Benoit Dageville and Snowflake Cofounder Marcin Zukowski

Snowflake Computing

Snowflake Computing, The cloud storage startup led by former Microsoft executive Bob Muglia has now raised $450 million in funding led by Sequoia Capital with a more than double for its valuation to $3.5 billion as compared with $1.5 billion when it raised $263 million 9 months ago.

Along with Sequoia, Altimeter Capital, Capital One Growth Ventures, ICONIQ Capital, Madrona Venture Group, Redpoint Ventures, Sutter Hill Ventures and Wing Ventures who are existing investors also participated in this round  also with new investor Meritech Capital.

Snowflake has now raised $923 million in total since inception. Snowflake is described as the only data warehouse built for the cloud and has already gained over 1,000 enterprise customers for its service including the likes of DoorDash, Netgear, Netflix, Office Depot, Ebates and Yamaha.

The company will be gearing this funding towards execution of new strategies which include growth of its sales teams, expansion of its engineering team, expansion of its multi-cloud strategy and solving of big data challenges for customers.




Snowflake CEO Muglia previously managed divisions at Microsoft that supported the Microsoft Office Suite, Windows Server and MSN Network product families
Snowflake Computing

“Snowflake is a key enterprise solution for the public cloud. The company’s flexible, cloud-built data warehouse enables customers to quickly derive deep insights from their data without the hassle and costs of other, legacy solutions,” Sequoia partner, Carl Eschenbach said in a statement.

“Snowflake has truly disrupted the data warehouse market but the best is yet to come. We are confident Snowflake’s customer-first approach and focus on innovation will continue to drive the company’s growth.” He stated.

“Learning to be data-driven is an imperative for every organization today, and a data-driven organization must be in control of its data,” Snowflake CEO Bob Muglia also added.

“Snowflake is the most powerful data warehouse in the world for analytics solutions. That power delivers the security, control and business answers needed to enable data-driven organizations. This is driving spectacular growth for our company, and this latest funding round will provide Snowflake with the resources we need to serve our rapidly growing set of new and existing customers around the world.”

Snowflake is based in San Mateo and also counts an engineering team in Bellevue, Washington. The company also plans for a new location in the German capital of Berlin which signals international expansion moves.




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