Elliott Robinson with Bessemer Venture Partners told CNBC that we’re relatively in the early innings of cloud adoption.
Cloud software will continue to eat traditional on-premises software. Somewhere in the next four to five years, cloud software will become the overwhelming delivery method and product in the space.
Snowflake IPO’d last week and Frank is an incredible founder that’s got an incredible product going after a massive and still growing market opportunity. Looking at SNOW stock on a price to sales basis, it looks incredibly expensive. But if you figure in the potential growth rate of around 35 percent year over year and free cash flow margin of 5, the company is not so overvalued.
Elliott Robinson, Bessemer Venture Partners, joins ‘Closing Bell’ to discuss how the company is projecting Snowflake and whether it could be the sign of a bubble.