Snowflake Announces Intent to Acquire Streamlit to Empower Developers and Data Scientists to Mobilize the World’s Data

Rhea-AI Summary

Snowflake (NYSE: SNOW) announced a definitive agreement to acquire Streamlit, a framework designed to simplify and accelerate data application development. This strategic move aims to enhance collaboration between developers and data scientists by providing easier access to data while maintaining high governance standards. The acquisition, subject to regulatory approvals, is expected to unlock significant potential for data-driven applications, benefiting both Snowflake's and Streamlit's user communities.

Positive

• Acquisition of Streamlit enhances Snowflake's data access and application-building capabilities.
• Streamlit's community of over 1.5M applications built allows for potential synergies.
• Expected to improve developer experience with simplified tools and governance.

Negative

• None.

The acquisition will enable developers to build apps using tools they love with simplified data access and governance

No-Headquarters/BOZEMAN, Mont. & SAN FRANCISCO--(BUSINESS WIRE)-- Snowflake (NYSE: SNOW), the Data Cloud company, and Streamlit, a framework built to simplify and accelerate the creation of data applications, today announced that they have signed a definitive agreement for Snowflake to acquire Streamlit. With this strategic acquisition, the two companies will join forces to unlock the unrealized potential of data and make it easier to build beautiful applications. Closing of the acquisition is subject to the receipt of required regulatory approvals and other customary closing conditions.

Developers want flexibility when working with data, simpler environments that require less administrative work and maintenance, and immediate access to the data they need while maintaining the highest standards of governance. The Snowflake Data Cloud provides developers and data scientists with a secure collaboration hub for data they can trust. Thousands of customers already depend on the Snowflake Data Cloud for critical data workloads backed by leading security and governance.

Streamlit’s open-source framework enables developers and data scientists to build and share data apps and to do so quickly and iteratively, without the need to be an expert in front-end development. Developers and data scientists already trust Streamlit for building data applications and interactive data experiences. Streamlit has over 8M downloads and more than 1.5M applications have been built using their framework.

Together, the two companies will enable developers to build apps using tools they love with simplified data access and governance. Streamlit users will benefit from greater resources for continued innovation on Streamlit’s framework and easier access to trusted and secure data to power their data applications. Snowflake customers will be able to leverage Streamlit’s robust app development framework to further unlock data with the Snowflake Data Cloud. Both will benefit from an even larger and more active community contributing to the Streamlit framework.

“At Snowflake, we believe in bringing together open standards and open source with industry-leading data governance and security,” Snowflake Co-Founder and President of Products Benoit Dageville said. “When Snowflake and Streamlit come together, we will be able to provide developers and data scientists with a single, powerful hub to discover and collaborate with data they can trust to build next generation data apps and shape the future of data science.”

“Streamlit’s community of developers, open source contributors, and creators is core to our success and we’re always looking for ways to further support the community with simple and powerful tools to build apps,” Streamlit CEO and Co-Founder Adrien Treuille said. “By joining forces with Snowflake, both the Streamlit and Snowflake developer communities will be able to tap into cutting edge technologies for unlocking data’s true potential.”

Learn More

• Watch Snowflake & Streamlit Co-Founders as they discuss how the two companies plan to join forces to empower data scientists and developers.
• Read a message from Streamlit’s Co-Founder and CEO, Adrien Treuille, about how today’s announcement will open new data frontiers for the Streamlit community.
• Learn more about how Snowflake and Streamlit plan to democratize data apps on the blog.

Forward-Looking Statements

This release relates to a pending acquisition of Streamlit, Inc. (“Streamlit”) by Snowflake Inc. (“Snowflake,” “our,” “we,” or “us”). This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding the anticipated benefits of the acquisition, and the anticipated impacts of the acquisition on our business, products, financial results, and other aspects of our and Streamlit’s operations. The forward-looking statements contained in this release are subject to known and unknown risks, uncertainties, assumptions, and other factors that may cause actual results or outcomes to be materially different from any future results or outcomes expressed or implied by the forward-looking statements. These risks, uncertainties, assumptions, and other factors include, but are not limited to: the effect of the announcement of the acquisition on the ability of Snowflake or Streamlit to retain key personnel or maintain relationships with customers, vendors, developers, community members, and other business partners; risks that the acquisition disrupts current plans and operations; the ability of the parties to consummate the acquisition on a timely basis or at all; the satisfaction of the conditions precedent to consummation of the acquisition, including the ability to secure regulatory approvals in a timely manner or at all; our ability to successfully integrate Streamlit’s operations; our and Streamlit’s ability to execute on our business strategies relating to the acquisition and realize expected benefits and synergies; our ability to compete effectively, including in response to actions our competitors may take following announcement of the acquisition; the effects of COVID-19 or other public health crises; and the effects of the recent and developing armed conflict in Ukraine. Further information on these and additional risks, uncertainties, and other factors that could cause actual outcomes and results to differ materially from those included in or contemplated by the forward-looking statements contained in this release are included under the caption “Risk Factors” and elsewhere in our Form 10-Q for the fiscal quarter ended October 31, 2021 and other filings and reports we make with the Securities and Exchange Commission from time to time, including our Form 10-K that will be filed for the fiscal year ended January 31, 2022. Moreover, both we and Streamlit operate in a very competitive and rapidly changing environment, and new risks may emerge from time to time. It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the acquisition, or the extent to which any factor, or combination of factors, may cause actual results or outcomes to differ materially from those contained in any forward-looking statements we may make. Forward-looking statements speak only as of the date the statements are made and are based on information available to us at the time those statements are made and/or our management's good faith belief as of that time with respect to future events. Except as required by law, we undertake no obligation, and do not intend, to update these forward-looking statements.

About Snowflake

Snowflake enables every organization to mobilize their data with Snowflake’s Data Cloud. Customers use the Data Cloud to unite siloed data, discover and securely share data, and execute diverse analytic workloads. Wherever data or users live, Snowflake delivers a single data experience that spans multiple clouds and geographies. Thousands of customers across many industries, including 241 of the 2021 Fortune 500 and 488 of the 2021 Forbes Global 2000 (G2K) as of January 31, 2022, use Snowflake Data Cloud to power their businesses. Learn more at snowflake.com.

About Streamlit

Streamlit makes creating web apps from Python fast and easy. Data scientists are able to go from data and models to deployed apps in a matter of hours and only a handful of lines of code. Streamlit is backed by Sequoia, Gradient Ventures and GGV Capital. For more information, visit http://streamlit.io or follow @streamlit.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220302005970/en/

Media Contact

Danica Stanczak

Sr. PR Manager, Snowflake

press@snowflake.com

Source: Snowflake Inc.

FAQ

What is the purpose of Snowflake's acquisition of Streamlit?

The acquisition aims to enhance data accessibility and application development for developers and data scientists.

How will the acquisition of Streamlit impact Snowflake's users?

Snowflake users will gain access to Streamlit's framework for building data applications, unlocking new functionalities.

What benefits does Streamlit bring to Snowflake with this acquisition?

Streamlit offers a robust app development framework that simplifies the creation of interactive data applications.

When was the acquisition of Streamlit by Snowflake announced?

The acquisition was announced on March 2, 2022.