Bozeman: The New Executive Headquarters of Snowflake, Inc
With a market cap of nearly 70 billion dollars, Snowflake, Inc. was the largest software IPO last year. And now, they're headquartered in little ole Bozeman, Montana.
Believe it or not, their new headquarters is located in Suite 3A of 106 East Babcock Street in downtown Bozeman. It's just East of the Post Office!
Snowflake had it's earnings release on Wednesday, May 26th, 2021 where in addition to the financials, the company announced that it's executive headquarters would move from San Mateo, California to Bozeman. (Two of Snowflake's executives already live here so the relocation of the headquarters made sense.) Their San Mateo offices aren't going anywhere but there are laws regarding "headquarters" and executives.
So what is snowflake and who are these executives?
The company designated Bozeman, Montana, as its principal executive office because it’s required by the SEC to have one and that’s where CEO Frank Slootman and CFO Mike Scarpelli are based.
Interestingly, Snowflake is one of a handful of large companies who really have embraced the work-from-home revolution and hence, re-evaluated where it's headquarters really needed to be. Why does it have to be in Silicon Valley? Well, it doesn't. How about downtown Bozeman? Perfect.
As to not screw up the description of what Snowflake, Inc. really does, here's a piece of their official profile on CNBC.com:
Snowflake Inc. is a cloud data platform provider. The Company’s platform enables customers to consolidate data into a single source to drive business insights, build data-driven applications and share data. Its cloud data platform supports a multi-cloud strategy, including a cross-cloud approach to mix and match clouds.
Some of Snowflake's biggest customers are companies such as jetBlue, Kraft Heinz, Capital One, Albertson's, BlackRock, instacart and Adobe. Not too shabby for our cute little mountain town, eh? 70 billion ain't chump change!