sridhar ramaswamy: Snowflake appoints Sridhar Ramaswamy as CEO
Data cloud company Snowflake has elevated Sridhar Ramaswamy as chief executive officer (CEO) and a member of board of directors of the company.
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Outgoing CEO Frank Slootman will continue to serve as chairman of the board.
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Ramaswamy, an alumnus of IIT Madras, previously held the position of senior vice president of artificial intelligence (AI) at Snowflake.
He had previously built Neeva, a competitor to Google Search in 2019, which was acquired by Snowflake in 2023. He was also part of the engineering team that built Google Search in the early 2000s and went on to lead the advertising products division at Google, which included search, display and video advertising, among other modes.
“In the last 12 years, Frank and the entire team have established Snowflake as the leading cloud data platform that is providing enterprises with the secure, scalable and cost-effective data foundation and cutting-edge AI building blocks they need to build for the future,” Ramaswamy said in a release. “I am honoured to have been chosen to lead the company into this next chapter of growth. We have an enormous opportunity ahead to help all customers leverage AI,” he added.
Within Snowflake, Ramaswamy led the launch of its Cortex stack, its new fully managed service that makes AI simple and secure for all users.
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“As the leading cloud data platform, Snowflake is at the epicentre of the AI revolution,” Slootman said in a release. “There is no better person than Sridhar to lead Snowflake into this next phase of growth and deliver on the opportunity ahead in AI and machine learning.”Fourth quarter results
As part of its fourth quarter results, the US-based Snowflake recorded total revenues of $775 million, up 32% on year and 6% sequentially. Product-led revenues stood at $738 million for the fourth.
For the full 2023-24 ended January 31, the software service provider reported 36% year-on-year growth in revenues to $2.8 billion.
Snowflake follows February-January fiscal year.
The company also reported a narrowed net loss of $169.3 million for the fourth quarter compared to $207.1 million for the same period a year ago. Total net loss for the full fiscal (FY24) increased 5% and stood at $836 million for Snowflake.
It is looking to clock $745-750 million in revenues in the first quarter of FY25, aiming for a 26-27% year-on-year growth, the company said as part of its Q4 results.
On the back of the announcement of a CEO change, Snowflake’s stock tumbled more than 20% on Wednesday’s extended trading.
Data cloud company Snowflake has elevated Sridhar Ramaswamy as chief executive officer (CEO) and a member of board of directors of the company.
![]()
Outgoing CEO Frank Slootman will continue to serve as chairman of the board.
Elevate Your Tech Prowess with High-Value Skill Courses
| Offering College | Course | Website |
|---|---|---|
| IIM Lucknow | IIML Executive Programme in FinTech, Banking & Applied Risk Management | Visit |
| MIT | MIT Technology Leadership and Innovation | Visit |
| Indian School of Business | ISB Professional Certificate in Product Management | Visit |
Ramaswamy, an alumnus of IIT Madras, previously held the position of senior vice president of artificial intelligence (AI) at Snowflake.
He had previously built Neeva, a competitor to Google Search in 2019, which was acquired by Snowflake in 2023. He was also part of the engineering team that built Google Search in the early 2000s and went on to lead the advertising products division at Google, which included search, display and video advertising, among other modes.
“In the last 12 years, Frank and the entire team have established Snowflake as the leading cloud data platform that is providing enterprises with the secure, scalable and cost-effective data foundation and cutting-edge AI building blocks they need to build for the future,” Ramaswamy said in a release. “I am honoured to have been chosen to lead the company into this next chapter of growth. We have an enormous opportunity ahead to help all customers leverage AI,” he added.
Within Snowflake, Ramaswamy led the launch of its Cortex stack, its new fully managed service that makes AI simple and secure for all users.
Discover the stories of your interest
“As the leading cloud data platform, Snowflake is at the epicentre of the AI revolution,” Slootman said in a release. “There is no better person than Sridhar to lead Snowflake into this next phase of growth and deliver on the opportunity ahead in AI and machine learning.”Fourth quarter results
As part of its fourth quarter results, the US-based Snowflake recorded total revenues of $775 million, up 32% on year and 6% sequentially. Product-led revenues stood at $738 million for the fourth.
For the full 2023-24 ended January 31, the software service provider reported 36% year-on-year growth in revenues to $2.8 billion.
Snowflake follows February-January fiscal year.
The company also reported a narrowed net loss of $169.3 million for the fourth quarter compared to $207.1 million for the same period a year ago. Total net loss for the full fiscal (FY24) increased 5% and stood at $836 million for Snowflake.
It is looking to clock $745-750 million in revenues in the first quarter of FY25, aiming for a 26-27% year-on-year growth, the company said as part of its Q4 results.
On the back of the announcement of a CEO change, Snowflake’s stock tumbled more than 20% on Wednesday’s extended trading.
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