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Google CEO Sundar Pichai.
- Data storage startup Snowflake has plans to announce support for Google's public cloud, according to multiple sources.
- In doing so, Snowflake, which is valued at $3.5 billion, would be able to help clients work across the three main public clouds: Amazon Web Services, Microsoft Azure, and Google Cloud.
- The decision to extend support to Google Cloud was at least partially influenced by Wall Street, which wanted the platform included, according to one source.
One of the hottest startups in the cloud computing space is adding support for Google Cloud as it aims to court Wall Street clients.
Snowflake, the cloud-based data warehouse valued at $3.5 billion, will soon be able to work with customer data in Google's public cloud, according to multiple sources familiar with the matter who declined to be named because the plans have not yet been made public.
The Silicon Valley-based startup helps its customers store their data across multiple cloud platforms, as well as their own servers and data centers. It also helps clean up that data and prepare it for intensive data analysis.
Currently, Snowflake already supports moving data to Amazon Web Services and Microsoft Azure, the two leading cloud platforms. With the addition of Google, Snowflake will have covered the three main American public cloud providers in the space.
Spokespeople for Snowflake and Google declined to comment.
Snowflake's decision to add support for Google was partially prompted by Wall Street firms like hedge funds and asset managers who wanted use of the tech company's cloud, one of the sources said.
It's no surprise Wall Street would push for Snowflake to broaden the public clouds it works with. As financial firms grow more comfortable with their usage of the cloud, many are beginning to fully develop a public cloud strategy.
Ideally, most would like to be "cloud agnostic," meaning they'd maintain the ability to seamlessly move between clouds without worry about vendor lock in. With the inclusion of Google support, Snowflake will cover financial firms' three main options in the space.
In May, Business Insider reported JPMorgan had chosen to work with Snowflake to help it develop its cloud strategy, which would include working across multiple providers.
More specific to Google, the company's cloud has "has the best machine learning and AI capabilities which are needed for a lot of market analysis from forex to capital flows to trading desk support," according to Ray Wang, an analyst with Constellation Research.
Additional reporting by Ben Pimentel in San Francisco
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