US-based Snowflake, a cloud computing-based data warehousing company, recently acquired Streamlit, an open-source app framework, at USD 800 million.
Place, Date: The technology space is a bustling playground where mergers and acquisitions make a substantial piece of news. Snowflake acquiring Streamlit for USD 800 million is one such notable news. While Snowflake helps companies manage a massive amount of data in the cloud, Streamlit, as an open-source framework, has been around for a while to help people create beautiful apps in a matter of minutes. Both the companies are optimistic about this move.
Snowflake’s co-founder and president for products informed that Streamlit and Snowflake share the same vision – democratizing access to data. Snowflake lacked a native data visualization piece, which it got with Streamlit. That’s how acquiring Streamlit is complementing Snowflake. On the other hand, Streamlit’s co-founder has described that there’s a deep cultural alignment between both the companies, which is beyond their business and technical alignment.
Snowflake plans to integrate Streamlit technology into the Snowflake platform. But the plan is to continue to build and support the open-source project and the community behind it. The deal will have to pass the regulatory muster, though. Snowflake’s co-founder is hopeful about it getting completed by this quarter.
Snowflake was launched in 2012 and is based out of Bozeman, Montana. Streamlit is a startup that started its journey in 2019. It helps create quick web apps for data science and machine learning.